News Release May 11, 2000
FOR IMMEDIATE RELEASE
EUB ISSUES 1999 RESERVES REPORT
Calgary, Alberta (May 11, 2000) The Alberta Energy and Utilities Board (EUB) today released its annual reserves report Alberta's Reserves 1999: crude oil, oil sands and gas. For the first time, this year's report has been separated into two volumes. Volume I includes reserves of crude oil, oil sands and gas, and Volume II, to be released in June 2000, includes reserves of ethane, NGL and sulphur. Volume I will be available in print and on CD-ROM.
Crude Oil
At the end of 1999, Alberta's remaining established reserves of crude oil were estimated at 28.1 billion cubic metres (m3), including
- In situ crude bitumen reserves of 22.6 billion m3, of which 0.5 billion m3 are from lands under active development;
- Surface-mineable crude bitumen reserves of 5.2 billion m3, of which 1.4 billion m3 are under active development;
- Conventional crude oil reserves of 0.3 billion m3.
Compared to 1998, this represents an increase of 22.2 billion m3 of in situ crude bitumen reserves, a 1.1 billion m3 reduction in surface-mineable crude bitumen, and a 0.0136 billion m3 decrease in conventional oil.
In previous reserve reports, the EUB limited the reporting of in situ reserves to those areas under active development. As noted in the 1998 report, a review was undertaken to estimate in situ recovery from those oil sands deposits that are amenable to in situ recovery methods. This review resulted in a revised estimate of initial established reserves for in situ of 22.74 billion m3, compared to 0.57 billion m3 in 1998. This significant increase is primarily a change in how the EUB reports reserves. However, the EUB believes it more realistically reflects the potential in Alberta for recovery of bitumen through in situ methods. These reserve estimates will be refined in the future as improved mapping provides better information on the in place reserve and actual performance leads to better information on recovery processes used to extract the reserves.
The reduction in surface-mineable reserves is a result of higher bitumen cutoffs, an updated economic strip ratio and the use of revised geological modeling techniques. The initial mineable volume in place of crude bitumen resource within the potentially mineable areas is estimated to be 9.4 billion m3, down from last year's estimate of 11.2 billion m3. Reduction factors result in an initial established mineable reserve of crude bitumen of 5.6 billion m3, down from 6.7 billion m3 in 1998.
For conventional crude oil, EUB estimates show that Alberta's remaining established reserves at the end of 1999 stood at 302 million m3, a reduction of 13.6 million m3 from 1998. New pool discoveries and development of existing pools added 12.8 million m3 to initial established reserves, while new and expanded enhanced recovery schemes added 2.1 million m3. With net reserve reassessments of 16.7 million m3, a total of 31.6 million m3 were added to initial established reserves. Total additions, including reassessments, represents 69 per cent of Alberta's conventional oil production in 1999 of 45.5 million m3.
Natural Gas
EUB estimates show that Alberta's remaining established natural gas reserves at the end of 1999 stood at 1207 billion m3, a reduction of 32.7 billion m3. The initial established reserves attributable to new pools discovered in 1999 were 38.5 billion m3, up from 13.4 billion m3 from 1998. Development of existing reserves resulted in an increase of 40.5 billion m3 and reassessment of existing pools lead to a net increase of 30.7 billion m3 of initial established reserves. The total addition of 109.7 billion m3 represents 77 per cent of Alberta's gas production in 1999 of 142.3 billion m3. Total cumulative natural gas production to the end of 1999 is 2712.1 billion m3. This represents 48 per cent of the EUB's estimate of the ultimate potential for natural gas.
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Copies of Alberta's Reserves 1999: crude oil, oil sands, gas, Statistical Series 2000-18, Volume I are available in hard copy for $250 each and on CD at a cost of $200 each from
EUB Information Services Section
Main floor, 640 5 Avenue S.W.
Calgary, Alberta, T2P 3G4
Tel. (403) 297-8190
The report is available for viewing free of charge in the EUB Information Services Section.
For more information, please contact:
Andy Burrowes, Section Leader Reserves Analysis
EUB Resource Appraisal Group
Tel. (403) 297-8566 Fax (403) 297-2592
Email: andy.burrowes@eub.gov.ab.ca
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