RECENT YEARS HAVE SEEN much speculation that Alberta could be sitting on mammoth unconventional oil and gas reserves. A new government study suggests there may be some truth to the rumours of a homegrown shale resource bonanza. In a recent report, the Alberta Geological Survey (AGS) estimates the potential resource in Alberta's shale and silt formations at 3,424 trillion cubicfeet of natural gas, 423.6 billion barrels of oil and 58.6 billion barrels of natural gas liquids. Cue the comparisons to other blockbuster shale plays in the United States.
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