Saturday, May 20, 2017

We're Back! Canada's "Permian Of The North" Sees New Life -- May 20, 2017

From Bloomberg, data points:
  • Montney shale formation, northern British Columbia and Alberta 
  • contains about 450 trillion cubic feet of marketable nat gas; about half of Qatar's total reserves
  • oil well service companies struggling to keep up with demand
  • unlike much of Canada's oil and gas region, the Montney sees a resurgence
  • pickup started back in November, December, 2016
  • idle equipment meant less expensive to drill
    • $6 million in 2014
    • $3.7 million in 2017
  • dubbed "Permian of the North" because it has same layered, stratified geology as its namesake
    • Permian: mostly crude
    • Montney: mostly natural gas and assoc liquids
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