A Calgary firm is asking companies to use caution when it comes to the numbers associated with natural gas resources.
In the wake of shale rights sales in BC totalling over $2 billion this year alone, communities in the Western Canadian Shale Basin have been inundated with numbers suggesting monstrous natural gas resource potentials in the shale formations just underneath the earth.
These resource potentials, which for the Montney and Horn River Basins alone are estimated to be in the 2000 trillion cubic feet range, are also used in reports to shareholders of publicly-traded companies.
The problem, according to AJM Petroleum’s Robin Mann, is what he calls the “non-technical population,” who may misunderstand these staggering numbers as actual recoverable gas. Mann estimates that number to be only a small percentage of the total—it could be as little as 15%.
However, Mann says this doesn’t mean that communities hoping for a boost from new shale developments won’t see some economic benefit.
Mann presented his findings to a forum of Pacific Gas producers September 24th in Vancouver.