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December 2, 2021updated 27 Apr 2022 11:42am

Peace River (Baytex Energy Corp.) Heavy Oil Field, Canada

By Carmen

Peace River (Baytex Energy Corp.) is a producing heavy oil field located onshore Canada and is operated by Baytex Energy.

Field participation details

The field is owned by Baytex Energy.


Production from Peace River (Baytex Energy Corp.)

The Peace River (Baytex Energy Corp.) heavy oil field recovered 47.94% of its total recoverable reserves, with peak production in 2014. The peak production was approximately 25.98 thousand bpd of crude oil and condensate and 2 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2046.


Remaining recoverable reserves

The field is expected to recover 86.65 Mmboe, comprised of 71.78 Mmbbl of crude oil & condensate, 88.4 bcf of natural gas reserves and 0.13 Mmbbl of natural gas liquid reserves. Peace River (Baytex Energy Corp.) heavy oil field reserves accounts 0.20% of total remaining reserves of producing heavy oil fields globally.


About Baytex Energy

Baytex Energy Corp (Baytex) is an independent upstream oil and gas company that carries out the acquisition, development and production of crude oil and natural gas at its properties in the Western Canadian Sedimentary basin, and the Eagle Ford, the US. The company’s portfolio of products comprises heavy oil, bitumen, light oil, natural gas, shale gas and natural gas liquids (NGL’s). Its oil and gas operations are organized in the core operating areas, including Peace River oil sands area in Alberta; heavy oil operations in Lloydminster area at Saskatchewan; and Pembina. Baytex is headquartered in Calgary, Alberta, Canada.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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