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Volume 441,599
January 18, 2019
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January 18, 2019
Contact Share

Location: Saskatchewan
Operator: Cardinal Energy Ltd.
Royalty: ORR: 1.14% / WI: 1.59%

The Midale Unit was discovered in 1953 and unitized in 1964 for the purpose of implementing a pressure maintenance scheme by water injection. The Midale Unit is located in southeast Saskatchewan approximately 40 km southeast of the city of Weyburn and encompasses 56 km2 on a gross basis (net 1.5 km2). Franco-Nevada holds a 1.14% gross override royalty interest and a 1.59% working interest in the Midale Unit. Cardinal Energy Ltd. is the operator.

The Midale Unit produces approximately 4,000 Boe/d and like the neighbouring Weyburn Unit, employs CO2 EOR techniques. According to Cardinal, the Midale Unit has greater than 0.75 billion barrels of original oil in place. Approximately one-third of the Midale Unit is under CO2 flood and Cardinal believes there are significant upside opportunities with EOR optimization and expansion, infill drilling and recompletions.

For 2017, revenue received by Franco-Nevada from the Midale Unit was $1.7 million and light/medium oil production net to Franco-Nevada was 104 Boe/d. Franco-Nevada takes product-in-kind for the working interest portion of this production and markets it through a third party marketer.


  • CO2 EOR project commenced in 2005
  • Long life, low decline asset with >0.75 billion barrels of OOIP

2017 2016 2015
Revenue to Franco-Nevada ($ million)1 $ 1.7 $ 1.4 $ 1.8