Montney Play Output to Hit 20Bcfe Per Day
Total production in Canada’s Montney play will likely reach 10 billion cubic feet equivalent per day (Bcfe/d) this year, according to Wood Mackenzie (WoodMac).
WoodMac, which highlighted that the figure would mark an increase of 16 percent from 2018, added that output from the play is forecasted to rise to 20 Bcfe/d by 2030.
Much of the forecasted growth is being driven by the rising liquids yield across various sub-plays within Montney, according to WoodMac, which said liquids production is expected to increase by 26 percent in 2019.
"Montney specialists have made major headway on improving completion design and are being rewarded with operational performance. Liquids is driving the story,” Nathan Nemeth, senior analyst at WoodMac, said in a company statement.
WoodMac highlighted that drilling activity from 2010-2014 was led by operators with LNG export aspirations. The company added that from 2015, activity has been led by operators targeting natural gas liquids, specifically condensate. The remaining value of the play is estimated to be over $48.3 billion (C$65 billion).
The Montney formation is roughly located in northeast British Columbia, south of Fort Nelson and spread into northwest Alberta past Grande Prairie.
The potential for unconventional petroleum in the Montney formation is estimated to be “very large” with expected volumes of 449 trillion cubic feet of marketable natural gas, 14.5 billion barrels of marketable natural gas liquids and 1.1 billion barrels of marketable oil, according to Canada’s National Energy Board.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Oil Demand Outpaces Expectations, Testing Calculus on Peak Crude
- House Passes Protecting American Energy Production Act
- TotalEnergies Restarts Production in Denmark's Biggest Gas Field
- USA Oil and Gas Job Figures Jump
- Republican Lawmakers Say IEA Has Abandoned Energy Security Mission
- Blockchain Demands Attention in Oil and Gas
- Houthis Warn Saudi Arabia of Retaliation If It Backs USA Attacks
- Macquarie Sees USA Oil Production Exiting 2024 at 14MM Barrels Per Day
- Summer Pump Prices Set to Hit $4 a Gallon Just as Americans Hit the Road
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Equinor Makes Discovery in North Sea
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension