Just a little Canadian gas basin researchTrying to get a handle on potential gas reserves for VLE, assuming they have about 1000 sq. kilometers of BCGA, which equals about 250,000 acres, here are he reserves for some Canadian companies in their basins based on their acreages.
"Apache Canada, the Horn River Basin’s most active operator with 72 wells targeting shale gas in the basin, has full-scale development underway in the Two Island Lake area with net production of 90 million cubic feet per day (MMcfd). Apache estimates a net recoverable gas resource of 9.2 Tcf from its shale leases in the Horn River Basin.
EnCana, with 68 long horizontal wells, produced a net 95 MMcfed in 2011 from its shale gas leases in the Horn River Basin. Devon, with 22 shale gas wells, is in the early stages of derisking its 170,000 net acre lease position, which the company estimates contains nearly 10 Tcfe of net risked resource.
EOG, with a 157,000 net acre lease position and 9 Tcf of potential recoverable resources, has drilled 35 shale gas wells and claims that the performance of its initial set of shale gas wells has met or exceeded expectations.
Quicksilver has a 130,000 net acre lease position, 18 shale gas wells and a projected recoverable resource of over 10 Tcf. Nexen, with 90,000 acres, has drilled 42 horizontal wells and estimates 6 Tcf of recoverable resources from its lease area."
AS can be seen based on the Canadian experience VLE's 250,000 acres is likely to have significant gas reserves, and the liquids is just a bonus.