GRI: Hidden Treasures Still in Western Canada
The GRI's latest report indicates producers won't run out of
work anytime soon in the Western Canadian Sedimentary Basin (WCSB),
which is estimated to have 166 Tcf in new pool potential and a 31.4
Tcf reserve appreciation potential. Because of these positive
estimates, the GRI said the region could surpass 8 Tcf of
production by 2015.
More than 50% of the new pool assessment comes from the
Foothills region of the WCSB. The GRI estimates 85 Tcf of new gas
potential in the play.
Included in this region is the Ft. Liard area, which the GRI
calls "one of the most exciting developments in Canada in recent
years." Estimated totals of undiscovered gas in Ft. Liard are 19
Tcf. And there is more to come. Development of the play will most
likely move north, the GRI said, toward the Beaufort/Mackenzie
Delta, which has undiscovered resources between 53 and 55 Tcf.
New plays are also expected to emerge with deeper exploration
activity. Currently, most of the completion activity takes place in
the 0-5,000 foot interval, the GRI said. "This activity is adding
to the deliverability but it is uncertain how much of this
represents new gas reserves. The industry must move more
aggressively into the deeper parts of the basin." There is a large
untapped strata volume below 10,000 feet, the association added.
Besides the Foothills area, the report also covers the Williston
Basin, central and southeastern Alberta and the British Columbia
plains. While Alberta rates high in both new pool and reserve
appreciation potential, the central and western portion of BC is
the one area in the WCSB where it is not thought significant oil or
gas potential exists. For a copy of the report, call (703) 526-7832
or send an email to email@example.com.
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