Friday, June 15, 2012

Apache Discovers New Huge Shale Gas Field In British Columbia

Great for consumers, not great for long term natural gas prices:

One of three companies planning a $4.5-billion liquefied natural gas terminal at Kitimat on Thursday announced an "outstanding" new shale gas discovery in British Columbia's remote and largely unexplored Liard Basin.
The find by Apache Corp. is estimated to contain enough gas in itself to justify doubling the size of the Kitimat terminal it's proposing with partners Encana Corp. and EOG Resources. The company is calling it the best and highest quality shale gas reservoir in North America, based on the volume of gas three test wells are producing.

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1 comment:

  1. So much gas and oil why are we paying so much for it? there will be new technology in place that will make most oil products obsolete long before the oil in the ground is used up! Cheap gas .Good for Canada they will drill and frack I glad it's in Canada because Obama would not let us drill in the States well that is until November, I hope.