Hello, I'm Tony Marino, CEO of Tenaz Energy. Today I'll give a brief summary of our 2025 budget. I'd ask you to please note our investment advisories, and to summarize what is in our budget. W e have provided guidance for production and CapEx for 2025. This is for our existing Canadian and non-operated Netherlands asset.
It does not include the additional volumes and CapEx that will be associated with NOBV at the time that we close that transaction. At the time we close NOBV, we'll put out new guidance that includes the operated Netherlands assets as well as our existing ones. In the current budget in Canada, we are planning a three gross well, 2.3 net drilling program. Two of these wells would be in Glauconite pools, and one would be in the Ellerslie pool, which we've already been drilling in in 2024. All of these wells would be unstimulated.
Probably all three of them will be multilateral wells. I'll point out that we have a great deal of undeveloped inventory in Canada. In fact, our inventory count and diversity has been expanding. We've got a number of locations in the Rex formation. We've got remaining drilling in the Ellerslie. That would be unstimulated horizontals. We have some undrilled inventory in the Sparky. These would be stimulated, as are the Rex wells, and several Glauconite pools that we're going to be drilling in this year with unstimulated horizontals. So a lot of inventory. Only three gross, 2.3 net wells planned at present for 2025, but we certainly have the flexibility to expand the Canadian budget. As it is, the Canadian unit will be growing on the order of 15%.
This is kind of the targeted ratable growth range that we have wanted for Leduc- Woodbend, and we have been seeking to achieve that in the most capital-efficient, highest return manner possible, and that's why we've shifted out of the substantial Rex inventory we have into these unstimulated wells, but both types and multiple zones are available for development. In Netherlands, in addition to some minor workover activity, continuing facility investment, and other maintenance activities, we expect in the second half of 2025 to have a non-operated development well drilled. This would be the L10 Malachite development location. It's a very high-quality project. It is in a pool that has already tested gas.
This would be in a superior structural position, and we are expecting the well to have pretty high productivity on the order of 25 million cubic feet a day of initial rate that can be sustained for some period of time. We have a 21.3% net interest in this project, and this very long extended reach well to the Rotliegend Sand would have an estimated net CapEx to Tenaz of about CAD 14 million. Again, the investment expected to occur in the second half of 2025. It well could be delayed into 2026, but as it stands now, we think that the capital would be invested next year. The first production we would expect on this drilling schedule to be very late in 2025.
We have used about one month of production in our forecast for this L10 Malachite well, and with even that limited contribution for Malachite, we end up with about flat production in Netherlands in 2025 as compared to 2024. When you put the two of these together, we generate about 10% production growth for Tenaz as a whole, and we set up quite a bit of additional growth for 2026. Again, this is a non-operated Netherlands and Canada because Malachite would be generating a full- year of production in 2026 under this timing forecast. The total D&D CapEx is CAD 30 million to CAD 34 million. That's based on a similar level of CapEx to what we invested in Canada this year. It does have an increase in the Netherlands. Again, that is for this L10 Malachite well that we are expecting to have drilled.
In addition to that, we have CAD 1.7 million of CapEx projected for E&E activities in the L10 CCS project. With respect to the NOBV transition, we continue to make progress on all fronts towards completion. Timing expectation has not changed. We are projecting mid-year. We'd be very happy to close it earlier, and that may be possible. We have had excellent engagement and interaction between the Tenaz and NOBV teams. We're delighted with the NOBV staff that will be coming over to Tenaz. They're very well trained, and they're very highly motivated, and we're very excited at Tenaz to be able to work with this group after the closing of the acquisition. One final point on NOBV, we continue to analyze and work up projects.
Of course, we did a very detailed forecast of what was available at the time that we made the acquisition, and we felt we had a very large amount of workover facility, development, drilling, and exploration inventory at that time. We find that the project inventory even exceeds our expectations. There are a number of additional projects we think that we'll be able to bring to the fore once we become operator, and it should give us a very strong investment horizon from these NOBV assets, and I think a real ability on our part to turn the production curve from the current decline profile into one that grows meaningfully over time. The next slide is a detailed summary of the 2025 guidance, and I've already covered, I think, almost all of these items. We reiterate our hedging program.
Again, everything on the slide, including the hedging, applies only to the existing Tenaz assets, our Canadian operated assets, and our non-operated Netherlands assets. The production mix that you see on the lower left is pre-NOBV, and the guidance on the lower right, again, calling for around 10% growth in production from 2024 levels and a higher CapEx level, mainly driven by the non-Netherlands development drilling, as shown on the lower right. Again, all this guidance without NOBV at the time we close NOBV, mid-year, projected to be mid-year or earlier, will give updated guidance for the new company, including the ownership of the NOBV assets. The final point I'd like to discuss is additions to our Tenaz team, two very important officer appointments.
I think that each of these new officers is going to make a very significant contribution not only to our existing assets and to our NOBV performance of our NOBV assets after we close that transaction, but also to our ongoing business development program. The first listed here is Antoni Wiernicki. He is our new Vice President of Marketing. He comes to us from Vermilion Energy, where he was Director of Marketing. He had earlier positions with Baytex, ARC, and BP. Very experienced in marketing management and market research, understanding the commodities and currencies that drive our business, and then designing the risk management, the hedging programs for these commodities. He's got a great deal of experience in TTF, which is an important product for us today through our non-operated Netherlands positions, and even more so going forward once we close the NOBV transaction.
So very important addition to our team as our marketing officer. The second appointment that we're announcing is Jamie Gagne as Vice President and General Counsel. Jamie has already been working with Tenaz since inception of the public company in 2021 with the recapitalization of Altura at that time as our Corporate Secretary. During this time, he has been a partner at Lawson Lundell, earlier a partner at Norton Rose, and now he will be joining us as the in-house Corporate Counsel. We've worked with Jamie, in fact, worked with both of these gentlemen for quite a time previously, and I know they're going to make a huge contribution to Tenaz, make every part of our business better. So again, please note the disclaimer at the end of the presentation. Thank you for your attention and we look forward to our next opportunity to update you about Tenaz.