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Fracturing horizontal wells is an expensive proposition up front. In the emerging Duvernay shale play, Yoho Resources Inc. reported completion costs of $7 million per well—or a little over 58 per cent of the cost of drilling, casing and completing the well—this summer.
By the time a steam assisted gravity drainage (SAGD) well reaches the blowdown stage, its life is effectively over. But shed no tears, it’s been a good life, and there may be a few more years of production left.
Oilsands industry expansion exists in lockstep with demand for condensate, and even though emerging natural gas plays in western Canada look promising for liquids production, the diluent game promises to remain based on imports as bitumen production grows.
While TransCanada Corporation’s proposed Energy East crude oil pipeline has the support of most of New Brunswick’s political parties, it’s a different story with shale gas as voters head to the polls Sept. 22 for a provincial election.
Tim McMillan, a former energy and resources minister in the Saskatchewan government, will become president of the Canadian Association of Petroleum Producers effective Oct. 1. 2014.
Guest editorial by Brad J. Hayes, P.Geol, President, Petrel Robertson Consulting Ltd.
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