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.
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