Company Building it right
Making what was old, new again.
WHAT WE DO
Founded with a mission to create lasting value for all stakeholders, Ricochet Oil Corp’s goal is to leave Alberta a better place.
We take a patient and cautious approach to acquiring, developing, and responsibly operating our assets throughout their life cycle. Our long-life, economic hydrocarbon reserves generate consistent and sustainable production, in service of our commitment to prudent, risk-managed growth.
WHERE AND HOW WE WORK
Headquartered in Calgary, Alberta, with operations centered in and managed around the vibrant ‘oil town’ community of Drayton Valley, Alberta, Ricochet prioritizes the enhancement of our core competencies in earth sciences, operations, finance, technology and stakeholder relations. Our commitment to ongoing improvement ensures that we remain increasingly profitable for decades to come, while staying true to our community-oriented and collaborative culture.
A FINANCIAL PERFORMANCE LEADER
Ricochet has a successful track record of profitably adding reserves while safely managing complex reservoirs. Our approach and commitment to excellence has resulted in exceptional and enviable financial outcomes.
Our History
Ricochet launched in 2020 and completed its inaugural asset acquisition from ARC Resources in 2021. Since then, we have consistently increased our production from ~7,000 boe/d by an average of ~1,000 boe/d annually. Presently, our production comprises approximately 80% liquids and 20% gas, most of which is processed through company‑owned and operated infrastructure connected to major egress pipelines.
LEADERS IN PEMBINA CARDIUM
Ricochet holds a substantial contiguous land base of approximately six townships, which is largely held in perpetuity through unit agreements and forms part of the Pembina Cardium — the largest, most prolific conventional oil discovery in Canada. Our lands surround the town of Drayton Valley, where we proudly employ a considerable workforce and are honoured to be a supportive member of the community.
~3 BILLION BARRELS
Studies by former owners indicate that Ricochet lands contain approximately 3 billion barrels of original oil in place. Early development with vertical wells by Mobil and Imperial Oil evolved into a well‑designed, Ricochet operated waterflood that delivers steady oil production with ultra‑low declines — primarily from cleaner, conventional upper Cardium sands. Additionally, our recent horizontal infill drilling initiatives have significantly increased production, capturing from both the upper and lower Cardium zones, utilizing the latest advancements in drilling and completion technology.
A LONG, PROFITABLE FUTURE
In early 2024, Ricochet underwent a strategic and seamless change of ownership while preserving our dedicated team of employees and contractors and, coinciding with retirements, the introduction of a new CEO and CFO in 2025 was part of a well-planned succession process aligned with the company’s vision. Ricochet remains a proud, highly profitable, and conservatively managed Canadian company, committed to optimizing the Cardium as our core asset for decades to come.