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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.
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 ]
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
The major oil pipelines exiting Western Canada have a design transport capacity of 4.0 million b/d. [54] In 2016, however, the pipeline capacity was estimated at 3.9 million b/d, [1] and in 2017 the Canadian Association of Petroleum Producers (CAPP) estimated the pipeline capacity to be 3.3 million b/d. [54]
The inclusion of unconventional shale gas with conventional gas reserves has caused a sharp increase in estimated recoverable natural gas in Canada. [1] Until the 1990s success of hydraulic fracturing in the Barnett Shales of north Texas, shale gas was classed as "unconventional reserves" and was considered too expensive to recover.
Top 5 oil-producing countries 1980–2022 World oil production. This is a list of countries by oil production (i.e., petroleum production), as compiled from the U.S. Energy Information Administration database for calendar year 2023, tabulating all countries on a comparable best-estimate basis.
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.
Western Canadian Select (WCS) is a heavy sour blend of crude oil [1] that is one of North America's largest heavy crude oil streams [2] and, historically, its cheapest. [3] It was established in December 2004 as a new heavy oil stream by EnCana (now Cenovus), Canadian Natural Resources, Petro-Canada (now Suncor) and Talisman Energy (now Repsol Oil & Gas Canada). [4]