FORT ST. JOHN, B.C. – A new report published by Geoscience BC today has graded the potential for high-value light and medium oil at 27 locations in northeastern B.C.
Geoscience BC said that while the area is well-known for its natural gas reserves, little research has been done to identify the potential for accessing lighter oil in the region since the widespread adoption of horizontal drilling and multi-stage hydraulic fracturing.
Titled ‘Identification of New Resource Oil Plays in Northeast British Columbia’s Portion of the Western Canada Sedimentary Basin,’ Geoscience BC said the project seeks to address that knowledge gap.
“This project has the potential to bring investment in light oil development to northeastern BC,” said project lead Brad Hayes. “This has significantly lower environmental impact than the heavier oils associated with Alberta’s oil sands, and could also help to diversify British Columbia’s economy.”
Of the 27 locations, eight were rejected as unsuitable and 19 were deemed suitable for analysis. Those 19 suitable locations were then graded from A to C: – 2 – the Halfway and Chinkeh Formations – were graded ‘A’ – 1 was graded ‘A/B’; – 6 were graded ‘B’; and – 10 were graded ‘C’.
“Light oil is significantly more valuable than the heavier oils. Making this new data publicly available helps the energy sector to focus exploration activity and responsible development,” said Geoscience BC Executive Vice President & Chief Scientific Officer Carlos Salas. “It also makes independent data about the potential for unconventional oil development in the region available to communities, First Nations and government.”
Geoscience BC said the identification of new oil plays in Northeast B.C.’s portion of the Western Canada Sedimentary Basin falls under its energy focus area and contributes to the organization’s objective to identify new natural resource opportunities.
The full report can be read here: http://cdn.geosciencebc.com/project_data/GBCReport2018-20/GBCR2018-20_Resource_Oil_Report.pdf