Our Strategy

Calima is a free cash flow and growth focussed Canadian Oil and Gas Producer and Explorer. Calima completed a transformational merger with Blackspur Oil during 2021 and successfully transformed into a high margin oil and gas producer leveraged to WTI pricing. 

Calima is a returns-focused growth producer with top tier assets, positive cash flow and a strong focus on ESG. Calima’s assets in Alberta (Brooks and Thorsby) are a de-risked asset base with existing wells and booked reserves with extensive 3D seismic.

The Brooks and Thorsby assets are low-cost, cash flowing assets with long-term upside. Calima plans to continue development drilling on these assets to further increase production. Calima has planned by Year End 2022, that the Brooks and Thorsby assets will grow production to 5,500 boe/d. Calima’s strategy involves executing strategic acquisitions of adjoining tenements to further increase production.


Calima has established a core position of land (~63 net sections) and significant infrastructure that creates a foundation for growth and expansion with year-round access.  The Brooks asset averaged production of a net ~2,400 boe/d in Feb 2022 with a 94% working interest. Calima has drilled 60 wells to date.

Brooks’ has potential to add offsetting ~49 net sections through Crown and freehold leasing, contributing an additional 130 net locations. Wells at Brooks have consistently outperformed type curve in both the Sunburst and Glauconitic reservoirs. The infrastructure is owned and operated by Calima has significant capacity for sizeable growth.


Thorsby provides a consolidated land base of >105 net sections (>62,000 net acres) that will be efficiently developed through a network of multi-well pads. The Thorsby asset has year-round access and averaged production of ~1,825 boe/d in Feb 2022 in the Sparky Formation.  Calima has drilled 15 wells to date.

Calima holds an 88% Working Interest in Thorsby land, of which ~92% is undeveloped and represents additional production and reserves potential. Furthermore, there is potential to add offsetting ~22 net sections through Crown and freehold leasing, contributing an incremental 45 net locations.

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