The Montney (oil and gas formation in BC and Alberta Canada) is estimated to hold 2,200 trillion Cubic feet of gas, Almost 29 billion barrels of natural gas liquids and over 136 billion barrels of oil. But it is the tight liquids rich fairway (approximately 15-20 miles wide) that contains high concentrations of both free condensate and natural gas liquids that everyone is pursuing in what may very soon be one of the largest commercially viable plays in the world.
Initially, companies targeted the Upper Montney, and the entire formation was viewed more as a dry gas play with high productivity and immense gas in place. Through the Technological Advances That have Begun to Move up to Canada and A General de-Risking of the play, the Middle Montney is proving That there is A very large liquids-rich fairway available with A Potential for incredible returns and economics.
Canadian supermajor Encana (NYSE: ECA) -a Montney shale heavyweight-is focusing its drilling to the east of the formation. Last year, Encana announced it would spend over 25 percent of ITS capex for 2014 on the Montney, and the liquids-rich Plays in the eastern area will Get the lion’s Share of this, with 80-85 New wells Planned for this year alone
Canadian petroleum forecast to 2030
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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