Conventional oil resources of Western Canada

Part I of this paper presents estimates of remaining conventional light and medium oil potential prepared in 1986 by the Geological Survey of Canada. It is a comprehensive analysis of the resource endowment of the region based on extensive geological, technical and statistical analysis of both present production areas and regions still to be fully explored. This information is used to develop an estimate of future resources expressed in terms of probability. Part II is an economic analysis coordinated by the Energy Commodities Sector of the Dept. of Energy, Mines and Resources Canada. It takes the information from Part I and determines the relationship between the wellhead price of oil and the long-term profitability of the undiscovered resources under a set of technical, cost and fiscal assumptions.