Pulse Oil
Pulse Oil Corp. is a Canadian upstream oil and gas producer holding a 100% working interest in two Nisku pinnacle reef reservoirs (Bigoray D and E Pools) in west Central Alberta, applying NGL solvent injection EOR to increase recovery of sweet light crude oil sold to midstream buyers.
- Company typePublic
- Founded2015
- HeadquartersVancouver, Canada
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Pulse Oil does
Pulse Oil Corp. is a Canadian upstream oil and gas producer headquartered in Vancouver, with its operating hub in Calgary and production assets in west Central Alberta. The company holds a 100% working interest in two Nisku pinnacle reef reservoirs — the Bigoray D and E Pools — that have produced sweet light crude oil for over 40 years under primary and water-flood operations, with an estimated 33.5 million barrels of discovered petroleum initially in place (DPIIP) and approximately 30% recovery factor to date. Pulse's core technical program is the Bigoray Enhanced Oil Recovery (EOR) project, which injects natural gas liquids (NGL) into each reef to achieve miscibility with remaining oil, lower viscosity, and increase mobility, with the stated objective of doubling recovery factor to ~70%. The EOR program is supported by a 2019 Schlumberger three-phase reservoir characterization using 3D seismic (the first such application on these specific pinnacle reefs) and annual reserves reports prepared by McDaniel & Associates under NI 51-101.
Pulse sells its sweet light crude oil and natural gas at market-linked prices (WTI/Brent benchmarks for oil, AECO for natural gas) directly to midstream companies and energy commodity buyers via a Lease Automatic Custody Transfer (LACT) agreement. Pricing is fully commodity-indexed with no consumer-facing pricing tiers. NGL solvent supply is sourced from a large midstream partner under multi-year contracts, and the company operates a custom injection skid commissioned in October 2022 as the most critical piece of EOR equipment.
The business model combines commodity production cash flow with recurring dilutive and debt capital raises to fund EOR capital expenditure. Between May 2022 and December 2025, Pulse completed a C$10.7M private placement, a C$4.16M rights offering, and grew its loan facility to C$4.25M (15% per annum interest) to fund drilling, workovers, and continued solvent injection at Bigoray. The customer base is narrow — essentially a single large midstream offtaker for each of oil/gas custody transfer and solvent supply — and revenue is intrinsically linked to Alberta hydrocarbon prices and production uptime.
Pulse Oil firmographics
Firmographics- Name
- Pulse Oil
- Legal name
- Pulse Oil Corp.
- Website
- https://pulseoilcorp.com
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Pulse Oil Corp. is a Canadian upstream oil and gas producer holding a 100% working interest in two Nisku pinnacle reef reservoirs (Bigoray D and E Pools) in west Central Alberta, applying NGL solvent injection EOR to increase recovery of sweet light crude oil sold to midstream buyers.
- Ownership category
- akta.pro rank
Pulse Oil industry classification
Industry- Product category
- Upstream Oil and Gas Production
- NAICS
- Oil and Gas Extraction (2111), Crude Petroleum Extraction (211120), Oil and Gas Extraction (211)
- SIC
- Crude Petroleum & Natural Gas (1311), Oil & Gas Field Services, Nec (1389)
- akta.pro primary industry
- Production Operations & Well Optimization (Artificial Lift, Flow Assurance) (EUALAAAF)
- akta.pro secondary industries
- Well Completions & Stimulation (Hydraulic Fracturing, Sand Control) (EUALAAAE), Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing) (EUALABAF)
Keywords
Where Pulse Oil is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices3 records
Markets served
Pulse Oil business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Supply Chain, Personnel, Others
Revenue model
- Crude Oil Sales: Pulse generates revenue primarily from the sale of sweet light crude oil produced from its Bigoray Nisku D and E pools. Production volumes in Q2 2022 averaged 244.4 BOE/D with 71.1% being oil and NGLs. Revenue is tied to Brent/WTI crude oil benchmarks and Alberta natural gas prices.
- Natural Gas and NGL Sales: Pulse sells natural gas produced alongside oil, as well as natural gas liquids extracted during processing. Gas production averaged 423.3 Mcf/d in Q2 2022. Additional gas revenue has been generated since May 2022 from reactivated pipeline infrastructure enabling sale from additional Bigoray wells.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Pulse Oil product offering
Product offeringCore offering
Pulse Oil Corp. is a Canadian upstream oil and gas producer that generates revenue from the sale of sweet light crude oil, natural gas, and natural gas liquids produced from its 100% owned Bigoray property in west Central Alberta. Its core offering is a solvent flood enhanced oil recovery (EOR) project applied to two Nisku pinnacle reef reservoirs (Bigoray D and E Pools) that have produced for over 40 years, with NGL solvent injection lowering oil viscosity and increasing recovery factor. Operations span conventional oil and gas production, water flood enhancement, and supporting infrastructure including a custom solvent injection skid.
Product overview
Pulse Oil Corp. is a Canadian oil and gas company operating a single integrated product portfolio centered on its 100% owned Bigoray Enhanced Oil Recovery (EOR) Project in west Central Alberta. The company's core offering consists of a solvent flood EOR program targeting two Nisku pinnacle reef reservoirs (Bigoray D and E Pools) that have been producing sweet light crude oil for over 40 years. The EOR program involves injecting natural gas liquids (NGL) into the reservoirs to achieve miscibility with remaining oil, reducing viscosity and improving mobility. The company also operates conventional oil and gas production from Bigoray and Queenstown properties. Key operational components include the Solvent Injection EOR Program applied to the Nisku D Pool (currently active since December 2022), the Nisku E Pool operations (planned future phase), Water Flood Enhancement initiatives, and supporting infrastructure including custom injection equipment. The company supports its EOR activities with standard oil and gas production that generates cash flow to fund the enhanced recovery program.
Differentiator
Problem solved
Functional benefit
Products and services
- Bigoray EOR Project A solvent flood enhanced oil recovery project targeting two Nisku pinnacle reef reservoirs (Bigoray D and E Pools) in west Central Alberta, designed to increase oil recovery through injection of natural gas liquids that mix with reservoir oil to lower viscosity and improve mobility.
- Solvent Injection EOR Program Injection of NGL (natural gas liquids) solvent into oil reservoirs to achieve miscibility with remaining oil, lower viscosity, and increase production rates and ultimate oil recovery from established pools.
- Oil and Gas Production Primary production of sweet light crude oil and natural gas from the Bigoray and Queenstown assets in Alberta, with production rates and revenue forming the company's operational foundation.
- Nisku D Pool Operations The first of two Nisku pinnacle reef reservoirs at Bigoray where solvent injection EOR commenced in December 2022, currently producing sweet light crude oil with API gravity improvement demonstrated through the solvent flood program.
Quantifiable outcome
- 20%+ production increase at Bigoray facility in response to EOR flood (December 2025 vs. pre-injection baseline)
- +7 more outcomes
Companies that use Pulse Oil
Customer profileSegments1 record
Ideal customer profiles1 record
Pulse Oil technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Pulse Oil partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Schlumberger International / World-Leading Reservoir Characterization ProvidercoreOne of the world's leading providers of technology for reservoir characterization, drilling, production and processing conducted a three-phase independent EOR viability analysis (Geological Study, Geological and Geophysical Modelling, and Reservoir Simulation) on the Nisku D & E pinnacle reefs in 2019. The study was the first ever to utilize 3D seismic data on these specific pinnacle reefs. Results confirmed the EOR project was viable and informed subsequent modeling updates in 2023.
- Large Midstream Solvent SuppliercoreA large midstream company supplies NGL solvent for injection into the Nisku D pool EOR program. Initial contract covered December 2022 through March 31, 2023 for up to 6,000 m3/month (approximately 38,000 barrels) of solvent. Contract was extended from April 2023 to March 2024 with savings of approximately 15% per m3. The solvent supplier relationship is critical to EOR execution, as injected NGLs become miscible with reservoir oil to increase recovery.
- Second Large Midstream Company (LACT Operator)coreA second large midstream company constructed and operates a Lease Automatic Custody Unit (LACT) on Pulse's behalf. This facility expansion ties the midstreamer's facilities with Pulse's existing pipelines to measure all oil and gas volumes produced from Pulse's properties at Bigoray, providing custody transfer mechanisms to transfer oil and gas to buyers.
- McDaniel & Associates Consultants Ltd. (Independent Reserves Evaluator)coreIndependent qualified reserves evaluator that prepared Pulse's annual reserve reports in accordance with NI 51-101 and COGE Handbook. Conducted December 31, 2022, 2021, and 2023 reserve evaluations. The 2022 evaluation showed 163% increase in 2P reserves and 61.1% increase in NPV10% vs prior year.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
Pulse Oil competitors and assessment
Company assessmentDirect peers
- Hemisphere Energy Corporation: Hemisphere Energy is a small-cap Canadian upstream producer with a focused EOR/waterflood development strategy in Western Canada, closely analogous to Pulse's Bigoray Nisku pinnacle reef EOR project in scale, asset type, and operational model.
- Cardinal Energy Ltd. Cardinal Energy is a TSX-listed junior Canadian conventional crude producer with a similar asset profile of low-decline mature fields in Western Canada, comparable headcount and market capitalization, and a focus on low-cost, low-reclamation oil production.
- Pine Cliff Energy Ltd. Pine Cliff Energy is a small-cap Canadian E&P operating in Alberta with comparable production scale to Pulse and a similar mix of oil, NGL, and natural gas from legacy Western Canadian assets.
- Petrus Resources Ltd. Petrus Resources is a small Canadian E&P focused on liquids-rich production in Alberta, with similar market-cap, headcount, and asset concentration in mature Western Canadian fields.
- Saturn Oil & Gas Inc. Saturn Oil & Gas is a junior Canadian crude producer operating in Saskatchewan and Alberta with comparable scale, headcount, and a strategy centered on low-decline conventional light oil production similar to Pulse's Bigoray assets.
Broad incumbents
- Cenovus Energy Inc. Cenovus Energy is one of Canada's largest integrated oil and gas producers with extensive EOR operations in Alberta, including thermal and solvent-based recovery projects on Western Canadian reservoirs that share the same Devonian-aged Nisku/Duvernay play concept that Pulse is targeting.
- Whitecap Resources Inc. Whitecap Resources is a mid-cap Canadian E&P that has grown through consolidation of conventional and enhanced oil recovery assets in Western Canada, offering comparable play-type exposure but at much greater scale and diversification than Pulse.
- Tourmaline Oil Corp. Tourmaline Oil is one of Canada's largest natural gas and liquids producers with operations across Alberta, providing a broader peer comparison for the Western Canadian EOR/asset-development operating environment in which Pulse operates.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks7 records
Key highlights6 records
Customer concentration
Pulse Oil social profiles
Digital presencePulse Oil financial estimates
Financial estimateRevenue estimate
Valuation estimate
Pulse Oil leadership team
Management profileNumber of profiles
Profiles7 records
Pulse Oil subsidiaries and ownership
Company hierarchySubsidiaries1 record
Pulse Oil funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Pulse Oil M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Pulse Oil
What does Pulse Oil do?
Pulse Oil Corp. is a Canadian upstream oil and gas producer that generates revenue from the sale of sweet light crude oil, natural gas, and natural gas liquids produced from its 100% owned Bigoray property in west Central Alberta. Its core offering is a solvent flood enhanced oil recovery (EOR) project applied to two Nisku pinnacle reef reservoirs (Bigoray D and E Pools) that have produced for over 40 years, with NGL solvent injection lowering oil viscosity and increasing recovery factor. Operations span conventional oil and gas production, water flood enhancement, and supporting infrastructure including a custom solvent injection skid.
Is Pulse Oil a public or private company?
Pulse Oil is a public company. It is classified as public and is currently operating.
When was Pulse Oil founded?
Pulse Oil was founded in 2015. It employs 1 to 10 people.
Where is Pulse Oil based?
Pulse Oil is headquartered in Vancouver, Canada, in the North America region.
How does Pulse Oil make money?
Two revenue lines are on record. Crude Oil Sales are the primary driver. The others are natural Gas and NGL Sales.
Who are Pulse Oil's main competitors?
Direct peers on record are Hemisphere Energy Corporation, Cardinal Energy Ltd., Pine Cliff Energy Ltd., Petrus Resources Ltd. and Saturn Oil & Gas Inc.. Broad incumbents are Cenovus Energy Inc., Whitecap Resources Inc. and Tourmaline Oil Corp..
Does Pulse Oil have an API?
No public API is recorded for Pulse Oil.
What industry is Pulse Oil in?
Pulse Oil's product category is Upstream Oil and Gas Production. Its primary akta.pro industry code is EUALAAAF, Production Operations & Well Optimization (Artificial Lift, Flow Assurance), with a secondary code of EUALAAAE, Well Completions & Stimulation (Hydraulic Fracturing, Sand Control). Its NAICS code is 2111 and its SIC code is 1311.