Shale gas in western Canada is at the epicenter of the energy world this week
Special Alert
Energy Intelligence Report
Dear OilPrice Reader,
Shale gas in western Canada is at the epicenter of the energy world this week.
Excitement from energy investors over northern shale comes after Malaysian petro-major Petronas last week announced a massive investment here--$35 billion to build a liquefied natural gas (LNG) facility in the province of British Columbia. The deal is so big, it represents the largest foreign direct investment in Canada’s history.
But the promise of natural gas riches here appears to justify the spend. Gas wells drilled into shale plays like the Notikewin, Montney and Horn River in northeastern British Columbia have yielded massive discoveries—some testing at towering rates up to 24.5 million cubic feet per day, along with valuable natural gas liquids.
Tests like that are as good as any results coming out of even the hottest U.S. shale plays, such as the Marcellus.
It’s these rosy results that enticed Petronas to pay $6 billion for British Columbia-focused gas producer Progress Energy Resources in late 2012. Petronas is now making these gas fields the backbone for supply to its massive LNG development—which will ship gas across the Pacific to high-value markets in Asia and possibly beyond.
These are huge investments. But will Canada’s shales live up to their promise? After all, these plays are in their infancy. What do we really know about the economics of shale production here?
To find out, let’s take a look at some of the leading gas producers in British Columbia. And see what their financial performance tells us about just how good Canadian shale really is.
To get the real story on Canada’s shale plays and the companies best positioned to profit from them read this Friday’s Inside Opportunities report for Free – click here for details.
Copyright 2012 OilPrice.com. All rights reserved. No part of this report may be reproduced on any electronic medium without written permission from the publisher. Information herein is obtained from sources thought to be reliable, but we can not promise its accuracy.
Please note that we are not a registered investment firm or broker/dealer. Readers are advised that the material contained herein should be used solely for informational purposes.
We do not claim that making any investments based on the content we provide will lead to financial gain. The value of investments can go down as well as up. If you are considering making any investment decisions as a result of the content we provide then we urge you to always conduct your own research and due diligence and obtain professional advice before making any investment decision. We will not be liable for any loss or damage caused by a reader's reliance on information obtained in this email or on our web site. Our readers are solely responsible for their own investment decisions.
For a full copy of our terms and conditions relating to this service please visit our website.
