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NEB Released The First Study to Estimate The Marketable Unconventional Petroleum Resource

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Core prompt: The National Energy Board (NEB or Board), the British Columbia Oil and Gas Commission, the Alberta Energy Regulator, and the British Columbia Ministry of Natural Gas Development jointly released

The National Energy Board (NEB or Board), the British Columbia Oil and Gas Commission, the Alberta Energy Regulator, and the British Columbia Ministry of Natural Gas Development jointly released the first study ever to estimate the marketable unconventional petroleum resources in the Montney Formation.

Although the findings for marketable NGLs and oil are notable, the estimated quantity of natural gas is extensive.

"At current consumption rates the Montney gas resource would meet Canadian needs for 145 years," said Gaétan Caron, the NEB's Chair and CEO. "The report clearly shows that Canadian energy markets will be well supplied with natural gas far into the future."

By combining the Montney's marketable gas estimate with prior assessments, the total ultimate potential remaining in Western Canada is 17,898 billion m3 (632 Tcf). This estimate is likely to increase as additional unconventional potential from other formations is estimated.

Overall, Canada has a very large remaining natural gas resource base in Western Canada to serve its markets into the future.

The Montney Formation is roughly located in northeast British Columbia, south of Fort Nelson and spread into northwest Alberta past Grande Prairie (Figure 1).

 
keywords: Gas Resources, NEB
 
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