Attachie

A condensate-rich natural gas play, Attachie is a multi-layered asset primed for large-scale development and the leading development opportunity in our portfolio.

Quick facts


Production¹									~35,000 boe/day 60% crude oil and liquids 40% natural gas
2P Reserves²									174 MMboe 146 undeveloped locations booked, representing 9% of ARC’s internal inventory estimate at Attachie

_{(1) Anticipated average production based on 2025 guidance.}

_{(2) Comprises proved + probable booked undeveloped locations and internal inventory estimates as at December 31, 2024, which are subject to change based on technology and economic environment.}

Phase I overview

ARC sanctioned the first phase of development of this high-quality asset in Q1 2023. Phase I was successfully commissioned in October 2024 and is expected to have average production of approximately 35,000 boe per day in 2025.

In alignment with our long-term strategy, ARC is formalizing plans for Attachie Phase II. Investment is currently expected to begin in 2026, with production expected to commence in 2028. Phase II envisions a similar development program and facility design to Phase I.

Phase 1 includes:

40,000

boe/day

facility capacity

90
MMcf/day

natural gas processing capacity

25,000
bbl/day

liquids-handling capacity

electrified

with renewable hydroelectricity to support low-emissions profile

water recycling

infrastructure to reduce fresh water use

Project schedule and progress

The project was completed safely and on-time in October 2024. Commissioning has gone as planned with production averaging approximately 31,000 boe per day in December 2024 and increasing to average annual production of approximately 35,000 boe per day in 2025.

_{***All dates are anticipated based on the current project schedule.***}

Project milestones

Q3 2024 Update

Attachie Phase I is now complete:

Construction was completed in Q3 2024 and the project was successfully commissioned in late October 2024.
Drilling operations for all 40 start-up wells have concluded and completions operations for the final start-up pad will commence in mid-November 2024.

Construction on the Attachie Phase I is now complete and the project was successfully commissioned in late October 2024.

Drilling operations for all 40 start-up wells have concluded and completions operations for the final start-up pad will commence in mid-November.

September 2024 Update

Phase I of Attachie remains on track, with initial commissioning volumes anticipated in the fourth quarter of 2024. Plant construction is greater than 90 per cent complete and drilling and completion operations are progressing on schedule. ARC has drilled 37 of the initial 40 start-up wells, while 28 wells have been fracture stimulated.

Q2 2024 Update

Attachie Phase I is approximately 75 per cent complete:

ARC has drilled 30 of the approximately 40 wells required to fill the 40,000 boe per day facility capacity, and stimulated 20 wells.
Plant construction is approximately 75 per cent complete.
The transmission line, natural gas sales line, and water ponds are all complete.
The liquids and gathering pipelines are on schedule and nearing completion.

Selection for First-of-its-Kind Landscape Planning Pilot

In July 2024, the Government of B.C. and Halfway River First Nation announced an agreement which includes a Landscape Planning Pilot for an area that encompasses ARC’s Attachie development. As a result, Attachie is no longer limited by the disturbance cap for petroleum and natural gas development outlined in the Blueberry River First Nations Implementation Agreement.

All major equipment has been delivered to site and plant construction is approximately 75 per cent complete.

Construction on Farrel Creek Bridge is now complete.

Construction on Halfway Bridge is complete.

Electrification of the project at start-up is on-track, with construction and installation of critical infrastructure complete and ready to be energized.

Q1 2024 Update

Drilling and completion activity is progressing as planned. To date, ARC has drilled 22 of the approximately 40 wells required to fill the 40,000 boe per day plant capacity. The first Attachie Phase I pad was also completed in the first quarter. Other key milestones include completion of a pipeline bridge, plant construction is approximately 60 per cent complete, and all major equipment is on-site.

Our drilling and completions activity is progressing to plan. As of the beginning of May, we have drilled 22 of the approximately 40 wells required to initially fill the 40,000 boe per day plant capacity (60 per cent crude oil and liquids, and 40 per cent natural gas). In Q1, we also successfully completed the first pad at Attachie.

ARC successfully completed the construction of a pipeline bridge, an important milestone in achieving the project timelines.

The natural gas sales line was completed in the fourth quarter of 2023, and the liquids and gathering pipelines is greater than 70 per cent complete and progressing on schedule.

Q4 2023 Update

As of February 2024, Phase I is approximately 50 per cent complete. Drilling and completions activities have commenced, construction of the Phase I facility and related infrastructure is approximately 30 per cent complete, and installation of the gathering pipelines is approximately 40 per cent complete.

As of Q4 2023, construction of our Attachie Phase I facilities and related infrastructure is approximately 30 per cent complete.

Drilling and completions have commenced with two drilling rigs active in February.

Installation of the gathering pipelines is 40 per cent complete.

Q3 2023 Update

As of Q3 2023, construction of our Attachie Phase 1 facility is approximately 20 per cent complete. Key milestones achieved include: the natural gas sales line is installed, 75 per cent of facility pilings installed, water recycling ponds installed and compressor buildings installed.