NOW READ OUR ARTICLES IN 40 DIFFERENT LANGUAGES.
HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

SEARCH our ARCHIVE of over 14,000 articles
Vol. 10, No. 16 Week of April 17, 2005
Providing coverage of Alaska and northern Canada's oil and gas industry

Coalbed methane, tight gas vital to Western Canada production

Coalbed methane and tight gas could grow to almost one-fifth of Western Canada’s gas production over the next seven years, according to a study by Ziff Energy Group.

The Calgary-based firm expects that by 2012 the breakdown for the region will be: New gas 42 percent, existing gas 40 percent, coalbed methane 11 percent, solution gas 9 percent and tight gas 8 percent for a total of 15 billion cubic feet per day (putting coalbed methane at about 1.65 billion cubic feet per day). To achieve those volumes industry will need well completions close to last year’s record of about 15,700.

The 15 bcf per day prediction reflects a downturn from today’s 16 bcf-17 bcf, but the Ziff study also has a high case target that could see volumes grow by 9 percent if the annual decline rate — currently about 15 percent — varies by one or two basis points.

Spending on gas development as a proportion of capital budgets should grow from its current 60 percent to the 70-75 percent range by 2012. The report puts Western Canada’s ultimate gas production at 335 trillion cubic feet (43 percent of which has already been extracted).

At an annual rate of about 6 tcf, half of the Western Canada Sedimentary Basin’s potential will have been produced by 2012.

But the overall number could get a lift if coalbed methane and tight gas become more productive than anticipated.

—Gary Park



Did you find this article interesting?
Tweet it
TwitThis
Digg it
Digg
Print this story | Email it to an associate.

Click here to subscribe to Petroleum News for as low as $69 per year.


Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.