THE BIG PICTURE

Alberta’s energy sector, and the global energy landscape, is vast and complex. Getting a handle on the big picture is a helpful starting point. As we learn some key parts of this picture, we’re going to share them with you here.

THE BIG 3

The Panel is going to examine three major streams of the energy business that fall under Alberta’s royalty framework: crude oil and liquids; natural gas; and oil sands.

Each of these streams involves distinct geology, prices, and market considerations. And each has a different royalty structure, which may need to change to meet our goals and expectations.

We’ll be sharing what we learn about these streams. As the conversation evolves, you’ll be able to click on the icons to dig deeper and explore each of these streams. We’ll be asking for your thoughts about them, and we welcome any wisdom you’re willing to share.

Return to see what we put here

Crude oil & liquids

Natural Gas

Oil Sands

Alberta’s oil sands resources

Almost 99% of Alberta’s established oil reserves are in the oil sands. Using currently available technology and under current economic conditions, there are 167.8 billion barrels of remaining established reserves in Alberta’s oil sands resources.

Alberta’s oil sands resources are located in 3 major areas: the Athabasca, in the province’s north east region; the Cold Lake area; and the Peace River area. In total, the oil sands underlie 142,200 square kilometres of land.

When people think of the oil sands, they tend to picture big mining projects with oversized shovels, excavators and trucks. In actuality, only 3% of the oil sands area is suited for mining projects (about 4,800 square kilometres). And of this, only a fraction (904 square kilometres) has actually been disturbed by mining projects.

About 80% of Alberta’s oil sands resources, which underlie 97% of the oil sands areas, are too deep in the ground to be mined (i.e, more than 70 metres deep). These need to be recovered through in-situ methods. These methods are similar to conventional oil production, in that the bitumen is extracted in a process underground, and then brought up to the surface.

Ultimately, there are likely around 315 billion barrels of potentially recoverable oil in the oil sands. However, this would require more favourable economic conditions or new technology to extract and process.

Source: Alberta Energy

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The Panel

The Conversation

We’re inviting you to have several conversations with us, over several stages. Each stage is going to feed into the next. We’re going to ask you questions, and consider what you say. On a regular and frequent basis, we’re going to report back and reflect what you’ve told us, and ask you more questions based on that.

The Phases

First thoughts
PRINCIPLES of a Good Framework
WHAT DOES SUCCESS LOOK LIKE?

Visit often, because the questions will change. Encourage your friends, family members and co-workers to visit and participate as well. We want to have as much dialogue with as many Albertans as we can.

Invite other Albertans!