News Release 2011-06-08

 

News Release 2011-06-08

News Release 2011-06-08 (NR2011-15)

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ERCB report shows over 2300 successful oil wells were drilled in 2010, more than double the number drilled in 2009

For immediate release

Calgary, Alberta (Jun 08, 2011)… The Energy Resources Conservation Board (ERCB) has released its annual report Alberta's Reserves 2010 and Supply/Demand Outlook 2011-2020. The ERCB report is a source of information on the state of reserves and the supply and demand outlook for Alberta's diverse energy resources: crude bitumen, crude oil, natural gas, natural gas liquids, coal, and sulphur.

In 2010, Alberta’s crude oil production totaled 73.0 thousand cubic metres (m3) (459 thousand barrels) of oil per day with a yearly total of 26.6 million m3 (168 million barrels). This is a 0.4 per cent reduction from 2009.

Also in 2010, Alberta produced 256.3 thousand m3 (1.6 million barrels) per day of raw crude bitumen from the oil sands. The 2010 yearly total of 93.5 million m3 (589 million barrels) produced from the oil sands represents an 8 per cent increase over Alberta’s 2009 oil sands production. 

The ERCB also forecasts Alberta’s annual raw crude bitumen production will total 549.6 thousand m3 (3.5 million barrels) per day for a total of 201 million m3 (1.3 billion barrels) per year by 2020.

The report notes that, since 1967, Alberta has produced 1.2 billion m3 (7.5 billion barrels) of raw crude bitumen from the oil sands and crude oil production has produced 2.6 billion m3 (16 billion barrels) of crude oil since the industry began.

Other report highlights include:

  • Alberta's total remaining established crude bitumen and crude oil reserves totaled 27.1 billion m3 (170.8 billion barrels), consisting of 26.9 billion m3 (169.3 billion barrels) of crude bitumen and 237 million m3 (1.5 billion barrels) of crude oil.
  • Remaining established crude oil reserves increased nearly 4.0 per cent, the first increase since 2005, as the cumulative result of reserves additions from 2010 drilling, reserve revisions, and production.
  • Remaining established marketable conventional gas reserves stood at 1025.1 billion m3 (36.4 trillion cubic feet).
  • Remaining established coalbed methane gas reserves stood at 67.6 billion m3 (2.4 trillion cubic feet).
  • Alberta’s remaining established coal reserves are estimated at 33 billion tonnes (37 billion tons).

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For more information, please contact:

Bob Curran, ERCB Communications
Phone: 403-297-3392
E-mail: Bob.Curran@ercb.ca
Media line: 1-855-474-6356

NR2011-15