Alberta’s Oil & Gas Industry
For more than 60 years, the oil and gas industry has been growing and changing. Services and products have been innovated and adapted to fit new growth areas like heavy oil, oil sands, oil shale and unconventional gas.
Oil & Gas Revenues
Revenues increased by 40% from 2009 to 2010 to about $18 billion, because of a large increase in drilling activity. The industry more than doubled in size between 2000 and 2010.
In the 2010/11 fiscal year, Alberta’s net non-renewable resource revenues totalled $8.428 billion, accounting for 21.7 per cent of total Government of Alberta revenue.
Oil and Gas Drilling
In 2010, 9,492 oil and gas wells were completed in Alberta
(70% of all Canadian oil and gas wells drilled & completed).
Statistical information provided by the Alberta Energy Resources Conservation
Alberta Oil Reserves
Conventional 1.5 billion barrels
Oil Sands 169 billion barrels
Production (in barrels per day):
Conventional crude 459,111 bbl/d
Marketable oil sands 673,887 bbl/d
Pentanes/Condensate 122,781 bbl/d
Total Crude and Equivalent 2,050,767 bbl/d
Natural Gas Reserves
Proven Reserves: 39 Trillion Cubic Feet (Tcf)
Production: 4.1 Tcf
For more information, please visit the Department of Energy website: www.energy.alberta.ca
Sources: Alberta Energy, Government of Alberta Annual Report, Energy Resources Conservation Board, Statistics Canada, Canadian Association of Oilwell Drilling Contractors (CAODC)