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HomeNewsNEB report finds Duvernay field holds biggest shale oil reserves in Canada

NEB report finds Duvernay field holds biggest shale oil reserves in Canada

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A new study has found the Duvernay field holds enough natural gas to cover Canada’s consumption for the next 25 years. For the first time, the National Energy Board has taken a close look at reserves in the Duvernay Shale region, which runs from just below Grande Prairie from just north of Calgary and east of Edmonton.

It’s estimated it has nearly 77 trillion cubic feet of natural gas, and 6.3 billion barrels of natural gas liquids. Canada uses about 3.2 Tcf of natural gas per year. The NEB also estimates the region holds 3.4 billion barrels of marketable light oil and field condensate, which is reportedly the largest reserve in the country.

“This new assessment further solidifies our understanding of the extensive – and increasingly abundant – natural gas and oil resources in Alberta,” says NEB Chair & CEO Peter Watson.

To compare, the Montney basin has the potential for 449 Tcf of marketable natural gas, while the Liard Basin holds an estimated 219 Tcf.

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Overall, there are 165 billion barrels of oilsands reserves still remaining in northern Alberta.

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