JWN Energy Group’s Daily Oil Bulletin
11 December 2017
It may be early days for development of the Duvernay shale in Alberta, but it is increasingly looking like the next liquids-rich formation to take off in North America. A recent report by the National Energy Board (NEB) and Alberta Geological Survey (AGS) paints development of the Duvernay as an attractive alternative investment for companies to the oilsands region, albeit on a much smaller scale. In addition, global majors, many of whom missed the U.S. shale rush, are looking elsewhere to invest in short-cycle shale oil — and natural gas. As a result, rapid development of Duvernay shale could contribute to significantly higher Western Canadian oil production through 2030 than generally forecast.