Operations
Asset portfolio & operations
A low-decline producing base at Grand Forks — high-quality sandstone reservoirs, four integrated processing batteries, and a turnkey gathering network — alongside oil-prospective land in the Leduc area.
By the numbers
Production, reserves & income
Location & mineral rights
The Grand Forks core producing area
The Grand Forks property lies in the Grand Forks area of Alberta, roughly 300 km southeast of Calgary, within the primary, established oil-bearing fairway of the Western Canadian Sedimentary Basin. It is surrounded by multiple mature, active oil fields and serves as one of the cornerstone conventional-oil production bases in the region.
Ascensun's mineral rights cover 52 sections — about 133 square kilometres — with the core oil-production pools tightly consolidated within the property. Associated natural gas rights extend across approximately 50 sections (128 square kilometres).
Core areas
Asset overview
Grand Forks is the producing core, supported by oil-prospective Leduc-area land and a secondary Southern Alberta position.
| Asset area | Working interest | Key formations | Depth | Status |
|---|---|---|---|---|
| Grand Forks | 58%–100% (operated core) | Jurassic Sawtooth, Cretaceous Glauconitic | 800–1,000 m | Primary Stable base, sub-10% decline |
| Leduc Area | 100% | Nisku (oil-prospective) | — | Development Land prospective for oil |
| Southern Alberta | — | Gas-prone | — | Secondary Minor operational area |
Geology
High-quality sandstone reservoirs
Grand Forks produces from two main pay formations — the Jurassic Sawtooth Formation and the Cretaceous Glauconitic Formation — held in stratigraphic (lithological) traps and structural–stratigraphic composite traps, with multiple oil-bearing stacked formations across the property.
Production horizons are shallow, at 800–1,000 metres, which keeps drilling, completion, and operating costs exceptionally low. The reservoirs are high quality: porosities of 20%–28%, matrix permeability ranging from 20 to 2,500 md, and net pay thicknesses of 3–18 metres.
Surface infrastructure
Four integrated processing hubs
The property holds four core multi-well processing batteries with full oil/gas/water emulsion separation, chemical treating, and tank storage — requiring no near-term, large-scale capital for facility buildouts.
| Battery | Working interest | Role | Capability |
|---|---|---|---|
| 10-22 | 100% | Operator | Separation · treating · storage |
| 09-10 | 79% | Operator | Separation · treating · storage |
| 10-07 | 67% | Operator | Separation · treating · storage |
| 12-14 | 58% | Non-operator | Separation · treating · storage |
Gathering system
Turnkey pipeline networks
A fully developed gathering system laces the acreage, tying the primary producing wells directly back into the four main battery hubs. This mature layout keeps operations centralized and reduces truck-hauling costs to a minimum.
Production profile
Weighted to medium oil and NGLs
Ascensun produces approximately 185 BOE/d, weighted predominantly to medium oil (20° to 28° API) and natural gas liquids, with associated natural gas. The production base benefits from shallow depths and a low, sub-10% decline rate.
Remaining proved-plus-probable (2P) reserves total 3.4 million BOE, comprising 3.2 million barrels of oil and NGLs and 1.2 Bcf of natural gas. At late-2021 metrics, the asset base generated approximately $1.8 million in annualized net operating income.
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