Title : New North American On-Shore Conventional Oil Play -- October 4, 2017
link : New North American On-Shore Conventional Oil Play -- October 4, 2017
New North American On-Shore Conventional Oil Play -- October 4, 2017
Data points from Bloomberg via Rigzone:- the play is located between Alberta's Nipisi Lake and an area called Marten Hills; along the western edge of the Athabasca Oil Sands region
- the formation: within the Clearwater shale and sandstone formation
- location: Alberta, Canada; 125 miles southwest of the Fort McMurray oil sands; near Slave Lake
- low cost: can be pumped with conventional gear
- well costs: C$1.1 million to C$1.5 million; will produce as much as four ties more crude oil as a conventional horizontal well
- depth: 2,000 feet (wow -- that is incredibly shallow (middle Bakken, 9,000 feet deep)
- crude can be produced from the area for about $8/bbl (US dollar)
- land rush
- off the radar scope because most drillers are closely held like Deltastream
- recently, under the name Stomp Energy Ltd, the land company Scott Land & Lease Ltd paid C$10.15 million or C$1,101 per hectare
- cheap by Permian standards, but it was the most paid for a single section of exploration land in Alberta since December, 2011
- companies named: Deltastream, Cenovus Energy Inc., and Spur Petroleum Ltd
- size of play not mentioned
- small potatoes so far: just 1.46 million bbls in all of 2015 (North Dakota produces that much oil in less than two days)
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