The Federal Energy Regulatory Commission has ordered natural gas producers in Kansas to refund to customers approximately $500 million for erroneously adding the state's ad valorem tax onto...
The Great Canadian Gas Race
Demand to 2025."
The CGPC says that the discrepancy between the two estimates is due to how the two groups measure frontier gas resources. The NEB relies heavily on the assessments performed by the Geological Survey of Canada from up to 30 years ago, while the CGPC says it uses much more recent data.
Given its key role in North America, what will happen when the Canadian E&P industry begins to approach the bottom of its total marketable gas resource base in the WCSB, the workhorse of Canada's gas industry? The industry could look into other options such as gas hydrates, coalbed methane, and liquefied natural gas imports, Woronuk says.
Technology Mitigates Risk in Anadarko's Western Canadian Gas Exploration Campaign
Beware of the eternal doomsayer who persists in warning we're going to run out of oil or gas sometime in our children or grandchildren's lifetimes. That's the advice from members of the exploration and production community who've seen firsthand the power of technology in finding and producing reserves.
"I think that historically, whenever people look that far ahead, they always take kind of a pessimistic view of the resource they're working on, always thinking there's going to be something else out there to take over," says Robert Daniels, president of Calgary-based Anadarko Canada, one of the top independent producers operating in Canada. "I know back in the 30s, back in the 50s, back in the 70s, we were going to run out of gas, we were going to run out of oil, we've got a 20-year life and we're done. And here we are in 2002, there's still plenty of it out there."
Some producers are more active than others in using new technology to explore in undeveloped areas. Anadarko Petroleum, the parent company of Anadarko Canada, has been at the forefront of the technology charge in the United States since the early 1990s with its use of in-house 3-D seismic survey workstations. With its recent acquisitions in Canada, Anadarko is applying this knowledge and experience in some of the lesser-developed areas of Alberta and British Columbia.
"The technologies that we can bring in for risk mitigation allow us to go into areas that other companies perhaps weren't able to go into from an economic standpoint," says Daniels, who joined Anadarko in 1985 and also has worked out of the company's offices in Algeria, London and Houston. "One of the things Anadarko is very good at is mitigation of risks."
Anadarko's production volumes from Canada represent 17 percent of the company's worldwide production and 40 percent of its North American production. At the end of 2001, Anadarko held 1.2 Tcf in Canadian gas reserves and produced on average about 331 million cfd of natural gas. In the coming years, Anadarko anticipates it will continue to compete with the combined PanCanadian Energy and Alberta Energy for bragging rights as the largest North American independent producer.
After selling off its Canadian assets in the mid-1990s, Anadarko returned to the Canadian E&P sector in 2000 through its acquisition of Union Pacific Resources, whose Canadian assets