Forward Thinking in the Multi-Faceted
Canadian Oil & Gas Industry
A Calgary based company, Chinook Energy, Inc. directs its efforts into exploring possibilities in the oil and gas industry as well as establishing new drilling and collection sites in areas exhibiting considerable potential. With the diverse expertise of their team members, they are able to insure consistent profit growth through creating highly sustainable developments. Likewise, they utilize environmentally friendly techniques to maximize efficiency and minimize their carbon footprint.
President and CEO
Under the well-rounded leadership of President and CEO Walter Vrataric, Chinook Energy’s operations continue to expand. Vrataric’s history with the company is preceded by notable experience in land negotiations and management as well as governance of various other corporations within the oil and gas production industry. His presidency of Chinook began on May 10, 2012, and CEO status was gained on December 31 of the following year. Before being promoted to those positions, he held the appointment of Vice President of Business Development and Land, beginning in June of 2010.
The Chinook Energy business strategy revolves around generating sustainability and fostering growth in reserves, production and profits via their numerous developments within the Western Canadian Sedimentary Basin. This area holds virtually limitless opportunities, and their holdings here include:
- • Grande Prairie District
This sector is comprised of properties at Gold Creek, Valhalla, Wapiti and Knopcik. The company owns more than 84 gross sections in this area; of those, in excess of 50 are located within the Montney fairway which is vital to the projected Canada oil and gas upsurge. Gold Creek sites currently average 2,000 barrels of oil equivalent per day. A single new drilling site has been found to generate an estimated 500 BOE/D in liquid resources along with approximately 6 mmcf/d of natural gas.
- • Grande Prairie Area
Also in the Grande Prairie vicinity are Chinook’s Dunvegan Formation properties. Their Doe Creek sites alone produce a combined average total of 255 BOE/D with a sizable portion of undeveloped land remaining to sustain future drilling efforts. Pools in the Albright and Beaverlodge areas initially produced 289 BOE/D but have since been bolstered an additional 1,100 BOE/D due to a single work-over and recompletion.
- • Peace River Arch District
Holdings in Gordondale, Hotchkiss & Rainbow and Boundary Lakes round out Chinook Energy’s assets in this sector. Their first well in the Birley/Umbach area came online during the first quarter of last year, generating 1,336 BOE/D. Production currently equates to an average 785 BOE/D made up of 3.89 mmcf/d in natural gas and 135 barrels of condensate.
In regards to these rates, President and CEO Vrataric said, “We are pleased with these initial results as it confirms an extension of productive Montney from industry activity south of our land across a large portion of our large undeveloped land base.”
Chinook Energy Inc. is a Calgary-based upstream oil and gas company with exploration and production operations focused in Western Canada.
The Company’s average production rate was 6,103 boe/d for the second quarter of 2015. Chinook has a land base of over 240,000 net undeveloped acres in Western Canada.
As a pure domestic focused company with no debt, positive working capital and a credit facility with a current maximum availability of $75 million, Chinook is well positioned to accelerate the development of its recent Montney successes at Birley/Umbach property in northeastern British Columbia and Grande Prairie in northwestern Alberta.