In the News

NEB study highlights vast oil and natural gas potential of Duvernay

The Duvernay shale could yield billions of barrels of oil and trillions of cubic feet of natural gas.

An assessment by the National Energy Board (NEB) and Alberta’s Geological Survey, as reported by the Globe and Mail, ranks the Duvernay shale as having a resource potential in the league of the Eagle Ford shale in Texas. The study authors say the Duvernay has the potential to produce 3.4 billion barrels of crude oil and 76.6 trillion cubic feet of natural gas, plus 6.3 billion barrels of natural gas liquids. These numbers are equivalent to 17 years’ worth of the current production of light crude and condensate in Alberta, and almost 25 years of Canada’s annual natural gas consumption.

The Duvernay formation is about 100,000 square kilometres in size and is located along the Alberta foothills just east of the Rockey Mountains.

Read more:

Globe and Mail: “Alberta shale offers for future beyond oil sands: NEB”