Questerre Energy Utica Shale
Western Canada has historically and rightfully been considered the energy capital of Canada, but the discovery and early promise of natural gas in what is being called the Utica shale, has many companies and people in the area giddy about the potential if things play out the way they think.
Questerre Energy Corp. (TSE:QEC) says there's a possibility Utica shale could contain over 20 trillion cubic feet of recoverable natural gas, although it'll take time to prove that assumption.
In the first several weeks of the opening of the well, 12 million cubic feet of gas was produced on a daily basis, although that has dropped to less than half of that since that time. That's the normal way natural gas shale production works though, so not a real problem in that regard.
There are three more wells set to be opened similar to this particular well, which will give a better picture of the overall promise in the area.
While there is a lot of excitement about the potential in the first well, it will take some time, in fact years, and many more wells before it is known how strong of a find this is, but it's important that the first well at least showed solid potential and reason to go forward.
Other than Questerre Energy Corp., another way this could be played would be through Talisman Energy Inc. (TSE:TLM), which has a 75 percent stake in 400,000 hectares of land held by Questerre.
Questerre Energy Utica Shale
1 comment:
Me thinks it will be little more then 10% recovery rate as barnett is pulling down 50% with re-fracing same wells after flow rate declines and in addition same wells flowing for 30 years.
To sell before realizing full potential of play or even before natural gas makes it’s move on north america in a big way would be foolish and think the boys and Mr. Binnion are little smarter then that. They have already proven foresite.
Where else are you going to find year over year future returns like what is taking place here, why even bother looking?
Natural gas is the way of the future and if you think electric cars cut it in -20 degree weather, let alone -40, I beg to differ as heat takes juice.
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