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Since then, over 170,000 oil and gas wells have been fractured in Western Canada. [ 1 ] [ 2 ] : 1298 Fracking is a process that stimulates natural gas or oil in wellbores to flow more easily by subjecting hydrocarbon reservoirs to pressure through the injection of fluids or gas at depth causing the rock to fracture or to widen existing cracks.
Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to
Oil reserves in Canada were estimated at 172 billion barrels (27 × 10 ^ 9 m 3) as of the start of 2015 . This figure includes the oil sands reserves that are estimated by government regulators to be economically producible at current prices using current technology. [ 1 ]
In 2007 the World Energy Council estimated that these oil sands areas contained at least two-thirds of the world's discovered bitumen in place at the time, [3] with an original oil-in-place (OOIP) reserve of 260,000,000,000 cubic metres (9.2 × 10 12 cu ft) (1.6 trn barrels), an amount comparable to the total world reserves of conventional oil.
These unconventional deposits give Canada the world's third largest oil reserves, which are rivaled only by similar but even larger oil reserves in Venezuela, and conventional oil reserves in Saudi Arabia. Although Alberta has already produced over 90% of its conventional crude oil reserves, it has produced only 5% of its oil sands, and its ...
Hydraulic fracturing [a] is a well stimulation technique involving the fracturing of formations in bedrock by a pressurized liquid. The process involves the high-pressure injection of "fracking fluid" (primarily water, containing sand or other proppants suspended with the aid of thickening agents) into a wellbore to create cracks in the deep rock formations through which natural gas, petroleum ...
Mine at the Athabasca Oil Sands. According to the Alberta Energy and Utilities Board (EUB, now known as the Alberta Energy Regulator, the AER), Alberta's oil sands areas contain an ultimately recoverable crude bitumen resource of 50 billion cubic metres (315 billion barrels), with remaining established reserves of almost 28 billion cubic metres (174 billion barrels) at year-end 2004.
Natural gas is extracted from the Ostracod and Glauconite beds in southern Alberta, and light oil is extracted from the Ellerslie Member in central and southern Alberta. Multiple oil fields [3] and gas fields [4] tap into the Manville Group. Total gas reserves amount to 316 799 × 10 6 m 3 in the Lower Mannville and 644 774 × 10 6 m 3 in the ...