Oilex Group

Oilex Group is a key player in the highly productive Mannville condensate-rich gas play. In addition, we hold a dominant land position in the West Pembina Cardium resource play and have a high-working interest position in southeast Saskatchewan. In the United States, Oilex Group has a significant land position in the promising Turner Sand play in the Powder River Basin. Our North American assets represent approximately 30% of our total corporate production.

Oilex Group’s Canadian production and assets are focused in West Pembina near Drayton Valley, Alberta and in southeast Saskatchewan and southwest Manitoba.

Oilex Group’s geographically advantaged Alberta assets feature the potential for three significant resource plays sharing the same surface infrastructure in the West Pembina region in Alberta: -Mannville condensate-rich gas (2,400 - 2,700 m depth) - in development phase -Cardium light oil (1,800 m depth) - in development phase -Duvernay condensate-rich gas (3,200 - 3,400 m depth) - in appraisal phase with no investment at present

-Mannville condensate-rich gas (2,400 - 2,700 m depth) - in development phase

-Cardium light oil (1,800 m depth) - in development phase

-Duvernay condensate-rich gas (3,200 - 3,400 m depth) - in appraisal phase with no investment at  present

Oilex Group entered the United States in 2018, acquiring 53,000 net acres of land in the Turner Sand play in the Powder River Basin of northeastern Wyoming for $11.1 million. Encouraging initial results prompted Oilex Group to consolidate its working interest in the Turner Sand project area to 100% through the acquisition of the remaining 30% interest in 2019. We subsequently acquired additional lands in August 2020 and now hold over 149,500 net acres of land in this promising light oil play.

 

Oilex Group Company has conducted operations in partnership with many of the major oil and gas companies around the world and earned the respect of the industry as an experienced, capable and cost-effective operator.

INTERNATIONAL OPERATIONS

Oilex Group Company currently oversees a wide and geographically diverse group of exploration, production and development activities in the Middle East, Latin America, Africa and Europe. Oilex Group Company has a rich heritage of international exploration, having conducted seismic survey and drilling operations in a variety of climactic conditions, both onshore and offshore. While the majority of the company's activities are the result of internal prospect generation, Hunt remains open to participation in opportunities generated by others that are consistent with Hunt's operating philosophy and meet the company's technical and economic criteria. As a partner in ongoing world-class projects, Hunt is committed to exceeding industry standards and contributing to the economic growth and social framework of Peru. Read more about Hunt's activities in Peru. France represented Oilex Group’s first international expansion when we entered the country in 2018. Today, Oilex Group is France’s largest oil producer with a 75% share of the domestic industry. Located in the Aquitaine and Paris Basins, our assets are characterized by large original oil in place (OOIP) conventional fields with high working interests and a low base decline rate – the total OOIP of our five largest fields is greater than 1.7 billion barrels of oil. Since our initial entry into France, we have completed three additional acquisitions, making significant investments in the country for the benefit of our stakeholders. We maintain two main offices in France, one located near Paris and the other near Bordeaux. Oilex Group has a significant inventory of lower-risk infill drilling, workover and optimization opportunities in France. We have drilled 18 wells in the Champotran field in the Paris Basin from 2018 to 2019 at a 100% success rate.