Skip Navigation

Velvet Energy

E&P company focused on acquiring, exploring for and developing light oil and liquids-rich natural gas assets in the Western Canadian Sedimentary Basin.

Velvet Energy Ltd. is a privately-held, full-cycle exploration and production company. Focused in the liquids-rich gas and light oil window of the Deep Basin of Alberta, the company executes an organic growth business plan, including early land capture, technical evaluation, exploration and development of internally generated prospects. Headquartered in Calgary, Velvet has current production of approximately 31,000 boe per day (43% liquids) and a land position of over one million net acres spanning from its core liquids-rich Ellerslie development in the greater Edson area to Montney light oil development at Karr/Gold Creek and earlier phase Montney oil projects at Pouce and Flatrock, B.C.

From start-up in 2011, Velvet has realized a 5-year compound growth rate in production of 25%, with over 95% added via the drill bit. Velvet is differentiated by the geo-technical rigour it employs to generate organic growth and by its integrated risk management program that looks to manage risk through the entire value chain, including an active and systematic commodity hedging program. Exploration is a key component of Velvet’s business plan and is viewed as crucial in expanding an inventory of opportunities and projects to achieve long term sustainable growth and to generate competitive full-cycle returns on investment.