Montney Shale in Canada, 2012 - Gas Shale Market Analysis and Forecasts to 2020

Investor Interest Returns to Canada’s Montney Shale


London, England -- (SBWIRE) -- 05/17/2012 -- Canada’s Montney shale play is gaining huge attention due to its unconventional gas reserves, securing enormous investments as operators compete for valuable areas, a new report by business intelligence expert GlobalData has found.

The new report* found that decreasing conventional resources in North America, coupled with an increasing focus on the development of unconventional resources, has been increasing production in the region for the last few years, with the Montney shale currently attracting the majority of unconventional development in Canada.

Historically, this play was largely overlooked by operators, due to low natural gas prices and low levels of reserves in the play. However, the Montney shale play is now expected to attract increasing numbers of investments due to drilling activities occuring as result of a reduction in royalty rates by the government of Alberta.

Unconventional resources in Canada are attracting different mergers, acquisitions and asset transactions deals to the country, due to the efforts of oil and gas operators to strengthen their reserves and production portfolios. One of the major asset transactions in the Montney shale was PETRONAS’s acquisition of around 50% working interest in Progress Energy Resources for approximately $1,103.8m in 2011.

Over 25 major operators currently operate in the area, and strong developmental growth in the shale has rewarded leading producers such as EnCana with high-quality natural gas.

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Natural gas production in the Montney shale play began in 2006, with 46 drilling permits issued, leading to production of approximately 6.94 billion cubic feet (bcf) of natural gas. Production increased throughout 2006-2010 at an average annual growth rate (AAGR) of 61.3% to reach 80.4bcf, from a total of 159 wells. Between January and October 2011, the Montney shale produced a record 98.3bcf of natural gas.

This report analyzes the recent activities in the Montney shale play by detailing the operational activities in the play, analyzing drilling and operational activities, production rates and well decline curves. It provides information on production trends in the Montney shale play with forecasts to 2020, while analyzing the competitive landscape of the Montney shale by detailing operations of the top five companies. The report also highlights infrastructure details in the shale play and details merger and acquisition activities during the period 2007-2011 inclusive.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.

GlobalData is a leading global business intelligence provider offering advanced analytics to help clients make better, more informed decisions every day. Our research and analysis is based on the expert knowledge of over 700 qualified business analysts and 25,000 interviews conducted with industry insiders every year, enabling us to offer the most relevant, reliable and actionable strategic business intelligence available for a wide range of industries.

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