World-Class Montney Resource Play
The Montney resource play is a very large, siltstone gas reservoir that is situated in the northeast corner of the province of British Columbia in western Canada. According to a study published in 2013 with the cooperation of the National Energy Board, B.C. Oil and Gas Commission, the Alberta energy regulator and the newly created B.C. Ministry of Natural Gas Development, the Montney contains 449 trillion cubic feet of natural gas - inferred from geological data - that can be extracted economically using current technology. Based on this estimate, Canada's natural gas needs could be supplied for the next 145 years.
As of 2012, the Montney represented approximately 33 per cent (13.4 TCF) of the Province of British Columbia’s remaining recoverable raw gas reserves. In that year, 0.6 TCF was produced from the Montney, accounting for 40 per cent of total gas production in the province.
The Montney ranks among the top natural gas basins in the world and has been the target of oil and gas exploration since the 1950s. While the majority of industry activity initially focused on conventional development through vertical drilling, in 2005, advances in horizontal drilling and multi-stage hydraulic fracturing made it economically viable for unconventional development of this extensive and prolific resource. The Montney is regarded as one of the best tight gas plays in North America, but also offers significant crude oil and natural gas liquids accumulations, which Crew is also targeting for development.