The CompanyExploration & Production



As an intergrated LNG company, Pieridae Energy is involved in the exploration and development of natural gas properties in Alberta, British Columbia, Quebec and New Brunswick. Once the Goldboro LNG facility is operational, gas produced from these areas will supply the plant via pipelines already in place. 

The upstream segment includes operations and assets in Western Canada, primarily Alberta and British Columbia, as well as Quebec and New Brunswick. Due to ongoing restrictions on hydraulic fracturing and other exploration and development activities in Quebec and New Brunswick, Pieridae currently has active operations in Western Canada only.  

British Columbia 

British Columbia Foothills

The Ojay area is located on the border of Alberta, approximately 100 kms southwest of Grande Prairie, Alberta. As of December 31, 2018, Pieridae had an interest in 27,012 gross (19,342 net) acres in this area. The company has a 40% working interest in a dehydration and compression station and various working interests in gas gathering systems. After compression and dehydration, gas produced from this location flows into Alberta and is processed at the Narraway Gas Plant.

Northern British Columbia

The Deep Basin Sierra and Ekwan areas are roughly 45km east of Fort Nelson, British Columbia stretching 85 km east towards the Alberta border and were acquired as part of the 2017 acquisition from Husky. As of December 31, 2018, Pieridae had an interest in 236,899 (212,155 net) acres in this area. The Sierra asset consists of ~25mmcf/d of production from the Pine Point Formation that is currently shut-in due to infrastructure constraints. Ekwan is currently producing ~7.5mmcf/d from the Jean Marie Formation into TC Energy's Nova system.


Northern Alberta Foothills

This area starts at the Alberta and British Columbia border approximately 100 kms southwest of Grande Prairie, Alberta and continues southeast to approximately 30 kms east of Grande Cache, Alberta. As of December 31, 2018, Pieridae had 74% average working interest in 296,280 gross (220,212 net) acres in this area. The company has four dehydrators, various compressor stations and gas gathering systems with working interests between 28% and 59%. The Corporation also has a 7.5% interest in the 135 MMcf/d Narraway Gas Plant and a 35% interest in the 25 MMcf/d Copton Gas Plant.

Central Alberta Foothills

This area consists of lands and assets acquired from Husky in 2017 and spans from from Hinton, Alberta to Stolberg Alberta west of Rocky Mountain House. The area includes existing gas production as well as oil and liquids-rich opportunities. As of December 31, 2018, Pieridae had an interest in 298,901 gross (180,938 net) acres within this area. Along with significant land holdings, the company has an interest in several large dehydrators and compressors along with the pipeline infrastructure, allowing it to transport production to the Ram River Gas Plant and NOVA sales meter without any third party disruption.

Southern Alberta Foothills

The Southern Alberta Foothills asset extends from the town of Rocky Mountain House, South to Lundbreck, near the Crowsnest Pass. As of December 31, 2018, Pieridae had an interest in 8,803 gross (5,423 net) acres representing a 52% average working interest. It includes ownership in approximately 140 km of pipeline, compression, and dehydration in the Burnt Timber Raw Gas Gathering System and the surrounding gas fields, as well as a small percentage ownership in numerous non-operated sites (less than 20%) at Benjamin, Jumping Pound, Moose Mountain and further south to Lundbreck.


On May 6, 2008, Pieridae acquired properties in Gaspé and Gastonguay from Junex over an area of 6,043 km2. Any future production is subject to royalties varying from 0.5 percent to 2.5 percent. Also, the company and Junex agreed to become 50/50 partners in a block of licences covering an approximate area of 291 km2, with Junex acting as operator. A second agreement was also signed that defined the Haldimand Project, a development area of 9 km2 around Haldimand N°1 well, giving Pieridae and Junex a 45 percent interest each, with Gastem holding the remaining 10 percent. Some licences for these properties are subject to royalties of 5 percent.

Bourque Project

The Bourque project, which was launched in 2007, is located on the northwestern part of the Gaspé property, 30 km east of Murdochville and 50 km west of the Town of Gaspé. There are four licences related to this property. Pieridae's owns 51% of the project, with Ressources Québec Inc. and TUGLIQ Energy Corp. owning 45% and 4% respectively. In 2016, the company drilled two horizontal wells in the Forillon Formation at Bourque and confirmed a light tight oil reservoir along with gas and natural gas liquids. Sproule Associates, an independent qualified reserves evaluator has updated their initial assessments of the prospective and contingent resources present and estimate a Total Petroleum Initially in Place (TPIIP) of 827,000 Mbbls (update: December 31, 2018). The two horizontal wells at Bourque are awaiting stimulation and production testing.

Gastonguay Project

The Gastonguay project is located near Murdochville in an area where very little geological exploration work has been done. Only six wells have been drilled since 1945, all before 1980. Two wells showed signs of the presence of gas. Mine drill holes near Murdochville also showed signs of the presence of oil and gas. The geology of the northern part of the Gastonguay property is similar to that of the Bourque property, and its oil and gas potential may be comparable. This property could be a potential target for production. More intensive exploration work must be done to determine more precisely where potential reservoirs are located. 

Matapédia Project

The Matapédia Project is located in the southern part of Lac Matapédia area, adjacent to the Gaspésia project. It is a 50/50 joiint venture with French company Maurel & Prom. Analysis shows this area may be a good one to produce oil, condensate and dry gas. A variety of work has been done in the area since 2001, including seismic surveys (2001, 2009), geochemical surveys (2007, 2008, and 2009) and an aeromagnetic survey (2011). Some of the rocks in the Matapédia sector represent a potential reservoir, including the Val-Brillant Formation. Analysis shows hydrocarbons have been found in the formation. 

Restigouche Project

The Restigouche property is located in the southern Gaspé Peninsula, on the north shore of Chaleur Bay and is included with the Matapédia Property. The seven licenses of the property were initially acquired by Gastem in 2007. It is a 50/50 joint venture with French company Maurel & Prom. 

Analysis shows some of the Restigouche area contains oil, condensate and gas worthy of production. Several formations in this area have been targeted as potential reservoirs, such as the White Head and La Vieille formations.

New Brunswick

Pieridae Energy also owns a significant interest in approximately 50,000 acres of land in New Brunswick that may be worthwhile for natural gas development. Once again, the current political and economic climate has made exploration and development less attractive, although the current provincial government lifted the fracking ban late in 2018.

The assets consist of approximately 50,000 acres of lands that may be desireable for natural gas development.