Figure 1.1 Price of WTI at Chicago - PowerPoint PPT Presentation

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Figure 1.1 Price of WTI at Chicago
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Figure 1.1 Price of WTI at Chicago

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  1. Actual Forecast Figure 1.1 Price of WTI at Chicago

  2. Actual Forecast Figure 1.2 Average price of oil at Alberta wellhead

  3. Actual Forecast Figure 1.3 Average price of natural gas at plant gate

  4. Figure 1.4. Alberta gas well cost estimations Drilling, casing and completion costs estimates (in millions 2003$) By Modified PSAC Area Area 7 Area 6 0.42 0.45 0.27 0.29 5.5% 6.2% Area 2 Area 5 1.79 1.97 0.73 0.82 Area 4 0.42 0.45 12.3% 12.0% 5.5% Area 1 2.29 2.29 Area 3 0.18 0.18 0.0% 4.8% • Source: PSAC 2004 Well Cost study (2003 dollars) and PSAC 2002 Well Cost study (2001 dollars) 2002 2004 increase in costs (in percentage, over 2 years)

  5. Figure 1.5. Alberta oil well cost estimations Drilling, casing and completion costs estimates. (in millions 2003$) By Modified PSAC Area Area 7 0.78 0.85 9.0% Area 5 Area 4 0.61 0.64 0.53 0.52 4.3% -2.1% Area 3 0.66 0.75 13.2% • Source: PSAC 2004 Well Cost study (2003 dollars) and PSAC 2002 Well Cost study (2001 dollars) 2002 2004 increase in costs (in percentage, over 2 years)

  6. Figure 1.6. Canadian economic indicators

  7. Actual Forecast Figure 1.7. Alberta GDP growth, unemployment & inflation rates

  8. Figure 2.1. Alberta’s three oil sands areas

  9. Figure 2.2. Comparison of Alberta’s crude oil and crude bitumen reserves

  10. Figure 2.3. Bitumen pay isopachs for the Athabasca Wabiskaw-McMurray deposit at 6 mass per cent cutoff and greater than 1.5 metres

  11. Figure 2.4. Net pay isopachs for recoverable bitumen within the Athabasca Wabiskaw-McMurray at 6 mass per cent cutoff and greater than 10 metres

  12. ATHABASCA 111.7 PEACE RIVER 2.5 17.5 COLD LAKE 41.4 In Situ Mined Bitumen Figure 2.5. Production of bitumen in Alberta 2004 103 m3/d

  13. Figure 2.6. Alberta crude oil and equivalent production

  14. Figure 2.7. Alberta crude bitumen production Actual Forecast 103 m3/d Surface Mining In Situ

  15. Figure 2.8. Total in situ bitumen production and producing bitumen wells

  16. Figure 2.9. Alberta synthetic crude oil production Actual Forecast 103 m3/d Synthetic Crude Oil

  17. Figure 2.10. Alberta Demand and Disposition of Crude Bitumen and SCO Actual Forecast Nonupgraded Bitumen Removals from Alberta 103 m3/d SCO Removals from Alberta Alberta Demand (mainly SCO)

  18. Figure 3.1. Remaining established reserves of crude oil

  19. Figure 3.2. Annual changes in conventional crude oil reserves

  20. Figure 3.3. Annual changes to waterflood reserves

  21. Fig. 3.4. Distribution of oil reserves by size(103m3)

  22. Figure 3.5. Oil pool size by discovery year

  23. Figure 3.6. Initial established crude oil reserves based on various recovery mechanisms (106 m3) Light-medium Heavy

  24. Figure 3.7. Geological distribution of reserves of conventional crude oil

  25. Fig. 3.8. Regional distribution of Alberta oil reserves (106 m3) 176 159 14 21 1193 478 49 384 75 45 17 2 258 45 2004 Initial established reserves 2664.9 106 m3 2004 Remaining established reserves 249.2 106 m3

  26. Figure 3.9. Alberta’s remaining established oil Reserves versus cumulative production

  27. Figure 3.10. Growth in initial established reservesof crude oil 3130 Ultimate potentiial 106 m3

  28. 149 178 Figure 3.11. Alberta successful oil well drilling By Modified PSAC Area 62 41 12 8 557 679 389 616 350 323 2 8 2003 Wells Drilled = 2345 534 386 2004 Wells Drilled = 1949

  29. Figure 3.12. Oil wells placed on production, 2004 By Modified PSAC Area Figure 3.13. Initial operating day rates of oil wells placed on production, 2004 By Modified PSAC Area 44 17.9 (112) 150 12.7 (80) 410 368 7.3 (46) 609 7.3 (46) 4.8 (30) 3 5.5 (34) 326 10.5 (66) Total = 1910 wells m3/day/well (bbl/day/well)

  30. Figure 3.15. Total crude oil production and producing oil wells

  31. Figure 3.16. Crude oil well productivity in 2004

  32. Figure 3.17. Total conventional crude oil Production by year placed on production Percent of total production from oil wells 6% 11% 7% 6% 7% 3% 3% 6% 4% 4% 42%

  33. Figure 3.18. Comparison of crude oil production Texas Onshore Alberta Crude Oil Louisiana Onshore

  34. Figure 3.19. Alberta Crude Oil Price and Well Activity Actual Forecast

  35. Figure 3.20. Alberta daily production of crude oil Actual Forecast Production (103 m3/d) Heavy Crude Oil Light-Medium Crude Oil

  36. Figure 3.21. Capacity and location of Alberta refineries Refinery Capacities - m3/d

  37. Figure 3.22. Alberta demand and disposition of crude oil Actual Forecast 103 m3/d Crude Oil Removals from Alberta Alberta Demand

  38. Figure 3.23. Alberta supply of crude oil and equivalent Actual Forecast Nonupgraded Bitumen 103 m3/d SCO Pentanes Plus Heavy Light-Medium

  39. Figure 4.1.Alberta successful gas well drilling – coalbed methane By Modified PSAC Area 613 151 3 407 2004 Wells Drilled = 1174

  40. Figure 5.1. Annual reserves additions and production of marketable gas

  41. Figure 5.2. Remaining marketable gas reserves

  42. Figure 5.3. Alberta unconnected gas reserves, 2004 By Modified PSAC Area 3 4 22 4 15 6 2 16 Total = 72 109m3 * Numbers not to scale

  43. Figure 5.4. New, development, and revisions to marketable gas reserves

  44. Figure 5.5. Marketable Gas Reserves Changes, 2004 By Modified PSAC Area 109m3 0.0 4.9 71.0 3.7 17.9 12.0 -3.7 40.1 Total = 145.9 109m3 * Numbers not to scale

  45. Fig. 5.6. Distribution of Gas Reserves by size(109m3)

  46. Figure 5.7. Gas pools by size and discovery year

  47. Figure 5.8. Geological distribution of marketable gas reserves