How much oil is in the Duvernay shale?
How much oil is in the Duvernay shale?
The Duvernay Shale is an emerging oil and liquids-rich gas formation in the Western Canada Sedimentary Basin that is thought to hold 443 Tcf of natural gas, 11.3 billion bbls of NGLs, and 61.7 billion bbls of oil, according to a report released in November 2012 by the Alberta Geological Survey.
How big is the Duvernay Formation in Alberta?
The Duvernay Formation in central Alberta produces shale gas and condensate using horizontal drilling and multi-stage fracturing methods. It is believed to hold estimated 443 trillion cubic feet of gas and 61.7 billion barrels of oil, per a report from the Alberta Energy Regulator.
What kind of gas is in the Duvernay?
Because the Duvernay’s geology varies widely, its petroleum volume and contents change depending on location. In particular, shallower areas are oil rich while deeper areas are gas rich. In between these areas, the gas is rich in NGLs, including condensate.
How long does it take to drill Duvernay Formation?
Operators in the Duvernay have up to nine years to drill the formation in order to hold it by production, as opposed to the three years or so that is more typical in the U.S. As a result, Canadian operators have much more time to be selective in choosing which properties to drill. 3.
Where does shale gas come from in Alberta?
Shale gas and condensate is produced from the Duvernay Formation in central Alberta using horizontal drilling and multi-stage hydraulic fracturing. $2 billion was paid for leases during 2010 and 2011. Prices for land remained high as of June, 2012 despite costs of drilling being expensive. Parts of the deposit show total organic carbon of 11%.
How big is the Duvernay Formation in Canada?
According to Canada’s Alberta Energy Regulator, the Duvernay Formation “holds an estimated 443 trillion cubic feet of gas and 61.7 billion barrels of oil (Penny China Institute 2012-12).” Calgary-based, Athabasca Oil Corporation (formerly Athabasca Oil Sands Corporation), holds 640,000 acres, the largest publicly disclosed Duvernay rights.
What kind of rock is the Duvernay Formation made of?
The Duvernay Formation is composed of laminated bituminous shale, calcareous shale and dense argillaceous limestone. Pyrite disseminations are common.