What Logan Energy does

Logan Energy Corp. is a Calgary-based, TSX Venture Exchange-listed (ticker: LGN) growth-oriented exploration, development and production company focused on unconventional oil and gas assets in western Canada. The company was formed in July 2023 through the spin-out of early-stage Montney assets from Spartan Delta Corp. and operates three core Montney assets — Simonette and Pouce Coupe in northwest Alberta and Flatrock in northeastern British Columbia — along with a position in the greater Kaybob Duvernay oil play spanning North Simonette, Ante Creek, and Two Creeks. Its core product is crude oil, natural gas, and condensate production from these formations, developed using horizontal drilling and multi-stage hydraulic fracturing. The company owns supporting infrastructure, including a 40 mmcf/d gas plant at Pouce Coupe, and targets 20,000-25,000 BOE/d production by 2028.

Logan Energy sells its crude oil and natural gas production directly to refineries, midstream processors, and energy marketers at market prices indexed to WTI and AECO benchmarks, with no proprietary pricing disclosed. The business model is asset-and-inventory-driven: growth is funded through a combination of public equity offerings (over $200M raised since listing), a syndicated revolving credit facility expanded to $250M in March 2026, and cash flow from operations. In 2025, production averaged 13,088 BOE/d (up 55% year-over-year), Adjusted Funds Flow doubled to $105.9M, and Operating Netback rose 31% to $25.12/BOE, with reported revenue of $176.11M.

The go-to-market motion is investor-focused rather than customer-focused: with no discrete software product, marketing occurs through investor presentations, TSX Venture listings, and analyst coverage from ten institutional research firms. The company is led by a management team drawn substantially from Spartan Delta — including CEO Richard McHardy (co-founder of Spartan Delta) and several VP-level operators — and has executed a sequential M&A strategy culminating in the March 2026 consolidation of 100% working interest in Montney-focused lands at Simonette.

Name

Logan Energy

Legal name

Logan Energy Corp.

Website

https://loganenergycorp.com

Company type

Public

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Logan Energy Corp. is a Calgary-based, TSXV-listed (LGN) exploration and production company that develops Montney and Duvernay shale assets in western Canada, producing crude oil, natural gas, and condensate for sale to refineries, midstream operators, and energy marketers at market prices.

Ownership category

akta.pro rank

Product category

Oil and Gas Exploration and Production

NAICS

Natural Gas Extraction (21113)

SIC

Crude Petroleum & Natural Gas (1311)

akta.pro primary industry

Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)

akta.pro secondary industry

Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)

Keywords

• Unconventional oil and gas production
• Montney shale exploration
• Duvernay oil development
• Canadian E&P operations
• Horizontal drilling production

Headquarters

HQ city

Calgary

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D

Revenue model

1. Crude Oil Production and Sales: Revenue generated from exploration, development, and production of crude oil reserves in Montney and Duvernay formations. 2025 results showed 84% year-over-year increase in crude oil production.
2. Natural Gas Production and Sales: Revenue from natural gas production, including gas condensate. Production weighted between oil and gas depending on asset area.
3. Infrastructure and Facility Operations: Revenue contribution from owned infrastructure including gas plants (40 mmcf/d Pouce Coupe facility) and pipeline systems supporting production operations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Logan Energy Corp. is an exploration, development and production company that acquires, develops, and produces crude oil, natural gas, and gas condensate from unconventional Montney and Duvernay shale plays in western Canada. Its primary asset areas are Simonette and Pouce Coupe in northwest Alberta and Flatrock in northeastern British Columbia, supported by owned gas processing and pipeline infrastructure. The company sells its production to refineries, midstream operators, and energy marketers at market-based benchmark pricing.

Product overview

Logan Energy is a growth-oriented exploration, development and production company focused on Montney assets in northwest Alberta and northeastern British Columbia (Simonette, Pouce Coupe, Flatrock areas) as well as Kaybob Duvernay oil play assets. The company operates a unified portfolio of oil and gas production assets with no discrete software or technology product offerings.

Differentiator

Problem solved

Functional benefit

Products and services

• Montney Assets - Simonette An opportunity-rich Montney asset with scale and substantial infrastructure in place, spanning multiple high-quality segments across the gas condensate to oil window in the Simonette area of northwest Alberta. Includes additional prospective horizons beyond the primary Montney zone.
• Montney Assets - Pouce Coupe A high-quality Montney asset in the Pouce Coupe area of northwest Alberta, spanning the gas condensate to light oil window with repeatable and highly economic inventory. Supported by a 40 mmcf/d owned gas plant facility and pipeline infrastructure.
• Montney Assets - Flatrock An emerging, undeveloped Montney asset in the Flatrock area of northeastern British Columbia, suitable for both gas condensate and oil development. High-quality subsurface properties underpin this greenfield asset that Logan is methodically advancing towards development.
• Kaybob Duvernay Oil Play Assets Assets in the North Simonette, Ante Creek, and Two Creeks areas within the greater Kaybob Duvernay oil play, targeting over 140 horizontal Duvernay oil drill locations for future development.
• Crude Oil Production and Sales Revenue generated from exploration, development, and production of crude oil reserves in Montney and Duvernay formations, sold to refineries, midstream operators, and energy marketers at WTI benchmark pricing.
• Natural Gas and Gas Condensate Production and Sales Revenue from natural gas and gas condensate production across Montney asset areas, sold to midstream processors and energy marketers at AECO benchmark pricing.
• Owned Midstream Infrastructure Operations Owned infrastructure supporting production operations, including a 40 mmcf/d gas processing facility at Pouce Coupe and associated pipeline systems.

Quantifiable outcome

• 55% production growth in 2025 to 13,088 BOE/d
• +5 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Gran Tierra EnergycoreStrategic or Co-development Partner · 10 March 2026Acquisition of non-operated interests from Gran Tierra in the Simonette area increased the company's percentage of oil-weighted production and consolidated working interest to 100% in Montney-focused lands.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Spartan Delta Corp. Parent company that spun out Logan Energy in 2023; same management team and overlapping Montney/Duvernay exposure in Alberta. The closest comparable given shared DNA, asset base, and growth strategy.
• Tourmaline Oil Corp. Canada\'s largest pure-play Montney natural gas and liquids producer with operations in the same Alberta/BC play fairway as Logan. Most relevant large-cap Montney peer for benchmarking.
• ARC Resources Ltd. Major Montney and Duvernay producer in northwest Alberta and northeast BC, with significant infrastructure including Pipestone Montney and Ante Creek Duvernay assets that directly overlap Logan\'s Kaybob Duvernay position.
• Peyto Exploration & Development Corp. Focused Alberta Montney and Deep Basin natural gas producer with similar cost-discipline, organic growth strategy, and infrastructure ownership model as Logan Energy.
• Birchcliff Energy Ltd. Pure-play Montney producer focused on the Pouce Coupe and Gordondale areas of Alberta, directly overlapping Logan\'s Pouce Coupe asset. Similar size and growth-stage profile.
• Crew Energy Inc. Montney-focused exploration and production company operating in northeast BC with comparable organic growth and infrastructure investment approach.
• NuVista Energy Ltd. Montney-focused producer in the Wapiti and Pipestone areas of Alberta, similar scale to Logan with comparable organic growth profile and liquids-rich natural gas production.
• Kelt Exploration Ltd. Montney-focused exploration and production company with liquids-rich assets in Alberta and BC; Logan\'s interim CFO Linda Brown and prior management ties to Kelt make it an especially close comparable.

Broad incumbents

• Crescent Point Energy Corp. Larger diversified Canadian E&P with Montney exposure in BC and Alberta as part of a broader portfolio including Shaunavon and Bakken assets. Provides context as a benchmark incumbent.

Others

• Whitecap Resources Inc. Diversified Canadian E&P with Montney and other conventional plays; a larger incumbent that has executed similar Montney consolidation transactions that Logan is pursuing at a smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/loganenergycorporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds6 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Logan Energy