Bonterra Energy reports strong Charlie Lake well results, acquisition and 2026 outlook
CALGARY (WO) — Bonterra Energy Corp. reported strong early results from its latest Charlie Lake wells, announced a strategic acreage acquisition to expand its core position, and outlined preliminary 2026 capital and production guidance as it continues to scale operations in northwest Alberta.
The company brought two gross (1.8 net) Charlie Lake wells onstream during the fourth quarter of 2025, delivering average 30-day single-well peak production rates of approximately 1,325 boed. The wells were drilled with three-mile laterals and completed with higher fracture stimulation intensity than prior Charlie Lake wells.
Combined 30-day peak rates averaged about 2,650 boed, including roughly 1,100 bpd of light oil, 100 bpd of natural gas liquids, and 8.7 MMcf/d of natural gas. Bonterra plans to complete an additional well from the same pad in the first quarter of 2026.
Bonterra said the results reinforce its strategy to grow scale in the Charlie Lake play, where the company has been increasing lateral lengths and completion intensity to enhance well productivity.
In parallel, Bonterra entered into a definitive agreement to acquire adjacent Charlie Lake assets in the Greater Bonanza area for $15.7 million in cash, subject to customary closing adjustments. The acquisition is expected to close before year-end 2025 and will be funded through the company’s revolving credit facility.
The acquired assets add approximately 760 boed of low-decline production, largely supported by existing waterflood operations, along with 41 net sections of land and 21 identified top-tier Charlie Lake drilling locations. The package also includes underutilized compression, batteries and gathering infrastructure, which Bonterra said creates opportunities for capital-efficient drilling and future gas processing flexibility.
The transaction expands Bonterra’s Charlie Lake land position in the Greater Bonanza area by approximately 36% and is expected to be immediately accretive to production, cash flow and free cash flow per share.
Looking ahead, Bonterra provided preliminary 2026 guidance calling for average production of 16,200 to 16,400 boed, supported by a capital program of $75 million to $80 million. The company plans to drill at least two Charlie Lake wells in 2026 using a combination of acquired infrastructure and existing lands.
Following closing, Bonterra expects its banking syndicate to increase the borrowing base on its revolving credit facility from $125 million to $150 million, enhancing liquidity as it advances development across its core Charlie Lake asset.
