Study: Alberta has huge shale resources

Alberta shale: Potential great, new evaluation says

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News Wires

 06 November 2012 21:45 GMT

A new study has identified immense oil and gas resources in Alberta's emerging shale prospects, suggesting a string of recent takeovers and land buys will yield impressive production gains for some of the world's largest oil companies.

The Western Canadian province's shale formations, including the Duvernay, Montney and Muskwa, could contain 3,324 trillion cubic feet of natural gas, 58.6 billion barrels of gas liquids and 423.6 billion barrels of oil, Reuters reported, citing research conducted by the Alberta Energy Resources Conservation Board and Alberta Geological Survey.

The numbers show Alberta, already Canada's largest oil and gas producing province, has huge potential even beyond its oil sands. They are currently seen as the world's third-largest crude deposit with about 170 billion barrels of proven reserves and ultimate potential of…

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