The Unconventional Oil and Gas Market Outlook: The Future of Oil Sands, Shale Gas, Oil Shale and Coalbed Methane

Date: July 22, 2010
Pages: 93
Price:
US$ 2,875.00
Publisher: Business Insights
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: U9856129E28EN
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The Unconventional Oil and Gas Market Outlook: The Future of Oil Sands, Shale Gas, Oil Shale and Coalbed Methane
Oil sands, shale gas, oil shale, and coalbed methane (CBM) are the primary unconventional oil and gas resources in the world today. These resources are called unconventional as they are extracted, processed, and refined in a manner that is different from the conventional. Typically, unconventional resources are difficult-to-extract, expensive to refine, and have more impact on the environment. Sustained high oil and gas prices until mid-2008 led to the development of these resources as governments across the world were concerned about dwindling energy supplies amid rising demand. Technological advancements further aided their development. Volatility in commodity prices adds to the uncertainty in unconventionals development. Rise in environmental concerns over extraction and development of unconventional resources may likely slow down the growth of the industry.

This report analyzes the growth of the unconventional oil and gas resources worldwide, discusses the drivers and resistors of the industry, and includes production forecasts for key regions.

The report documents statistical data on reserves, production including projections until 2030 for primary markets.

Key features of this report
  • Overview of the global unconventional oil and gas market with focus on key regions such as North America, Europe, and Asia-Pacific.
  • Growth of various unconventional resources – reserve estimates, current production, and outlook.
  • Information and analysis by resource – oil sands, heavy oil, shale gas, oil shale, and CBM.
  • Reserves, production, potential, drivers, resistors, key players, and outlook for various unconventional resources in different regions of the world.
  • Production forecasts for established markets and insights on emerging markets in the unconventional oil and gas market.

Scope of this report
  • Achieve a quick and comprehensive understanding of the global unconventional oil and gas industry.
  • Assess the emerging trends in each of the unconventional resources – oil sands, shale gas, oil shale, and CBM.
  • Quantify reserves and production in key markets such as the US, Canada, Australia, and China.
  • Understand the major issues surrounding the development of unconventional resources in important regions of the world.
  • Predict and identify growth potential by resource globally.

Key Market Issues
  • Energy security: Concerns over energy security forced countries such as the US to invent new technologies to tap resources that were previously inaccessible.
  • Technological developments: Technological developments in bitumen upgradation, horizontal drilling and hydraulic fracturing enabled the exploitation of unconventional resources. Continued technological advancements are helping to reduce the carbon footprint and overall environmental impact while increasing the efficiency of exploration and development operations.
  • High cost of extraction and development: Unconventional oil and gas resources need high commodity prices to be economically viable due to relatively high cost of extraction and development. Volatility in commodity prices adds to the uncertainty in unconventionals development.
  • Global natural gas glut: An unexpected rise in natural gas production and reserves in the US led to a global supply glut, which could threaten the development of unconventionals in Asia and Europe.
  • Impact on environment: Development of unconventional resources is increasingly clouded by environmental concerns, which could hamper the growth of the industry.

Key findings from this report
  • The world’s largest oil sands deposits exist in Canada with as much as 173bn barrels of proved reserves, making the country the second largest holder of oil reserves after Saudi Arabia.
  • In 2009, 1.4m barrels of oil per day were estimated to be produced from Canadian oil sands projects, which grew at a CAGR of 8.9% from 1.0m barrels of oil per day in 2005.
  • According to the US EIA, the shale gas proved reserves in the US totaled 32,825 bcf by end of 2008. Industry estimates put US natural gas reserves to last for 100 years at 2008 production rates.
  • Shale gas production in the US grew at a CAGR of 21.2% to reach 1.49 tcf in 2008 from 0.69 tcf in 2004. Its share in total US natural gas production increased from 3.7% in 2004 to 7.3% in 2008. By 2035 shale gas is anticipated to supply 25.8% of the consumption needs of the US.
  • According to Royal Dutch Shell, Europe’s unconventional gas reserves may total 1,200 tcf, approximately five times the proven conventional gas reserves.

Key questions answered
  • What are the primary unconventional oil and gas resources in the world today at present?
  • What are the technologies used in exploring and developing unconventional resources such as oil sands and shale gas?
  • What are the key drivers of unconventionals in general and key drivers in specific regions?
  • What are the key resistors of unconventionals in general and key resistors in specific regions?
  • What is the status of development of unconventionals across continents – North America, South America, Europe, Africa and Asia-Pacific?
  • Which unconventional resources are set to grow strongly and where?
The Unconventional Oil and Gas Market Outlook
Executive summary
Market development
North America
Europe
Asia Pacific
Other regions
Future outlook

CHAPTER 1 MARKET DEVELOPMENT

Summary
The unconventional oil and gas resources
Oil sands
Shale gas
Oil shale
Coalbed methane
Drivers of unconventional oil and gas resources
Energy security
Technological developments
High conventional oil and gas prices
Resistors of unconventional oil and gas resources
High cost of extraction and development
Global natural gas supply surplus
Impact on environment

CHAPTER 2 NORTH AMERICA

Summary
Introduction
Key unconventional resources
Oil sands
North America oil sands production
Shale gas
North American shale gas production
Coalbed methane
North America coal-bed methane production
Oil shale
Drivers
New pipelines to drive demand for oil-sands derived crude
Advances in drilling technologies make shale gas production viable
Resistors
Environmental concerns impact on oil sands projects
Environmental regulations could limit growth of shale gas
Key players
Oil sands
Shale gas

CHAPTER 3 EUROPE

Summary
Introduction
Key unconventional resources
Oil sands
Shale gas
Drivers
Prospects for shale gas increased with technological developments
Resistors
Unfavorable geology and infrastructure shortages
Competition from conventional gas
Environmental concerns
Key players

CHAPTER 4 ASIA PACIFIC

Summary
Introduction
Key unconventional resources
Coalbed methane
China
Indonesia
Australia
Shale gas
Drivers
Government drive to develop CBM in China and Indonesia
Technology and increasing natural gas demand drive CBM in Australia
Resistors
Lack of technical expertise slow development of unconventionals in Asia
LNG flows at competitive prices dampen unconventional gas in Asia
Key players

CHAPTER 5 OTHER REGIONS

Summary
Introduction
South America
Oil sands/ Heavy oil
Shale gas
Africa
Oil sands
Coalbed methane
The Middle East
Oil Shale
Drivers
Declining production from conventional energy resources
High dependence on energy imports
Resistors
Political instability and regulations
Environmental concerns surround oil sands development in Congo
Key players

CHAPTER 6 FUTURE OUTLOOK

Summary
Introduction
Key unconventional resources
Oil sands
Shale gas
Oil shale
Coalbed methane
Glossary
Index

LIST OF FIGURES

Figure 1.1: Geographic concentration of oil sands deposits, 2010
Figure 1.2: Geographic concentration of shale gas deposits, 2010
Figure 1.3: Geographic concentration of oil shale deposits, 2010
Figure 1.4: Geographic concentration of Coalbed methane deposits, 2010
Figure 2.5: Canada oil sands regions
Figure 2.6: Crude oil production from Canadian oil sands (‘000 bbl/d), 2005–09
Figure 2.7: US shale gas basins
Figure 2.8: US Shale gas production (tcf), 2004–08
Figure 2.9: US coalbed methane fields
Figure 2.10: US CBM production (tcf), 2004–08
Figure 2.11: US oil shale basins
Figure 2.12: North America proposed crude oil and natural gas pipeline expansions, 2008
Figure 2.13: Canada’s GHG emissions (kilo tons of CO2 equivalent), 2003–07
Figure 3.14: Proposed natural gas pipelines to Europe
Figure 4.15: Location of Australia’s CBM reserves and gas infrastructure, 2010
Figure 5.16: Venezuela crude oil production and exports (‘000 bbl/d), 1990–2008
Figure 5.17: Argentina natural gas production and consumption (bcf/d), 2004–08
Figure 6.18: Crude oil production from Canadian oil sands forecast (‘000 bbl/d), 2009–25
Figure 6.19: Crude oil production from China oil sands forecast (‘000 bbl/d), 2015–30
Figure 6.20: US Shale gas production forecast (tcf), 2009–35
Figure 6.21: US Shale gas production forecast (tcf), 2009–35
Figure 6.22: Crude oil production from US oil shales forecast (‘000 bbl/d), 2010–30
Figure 6.23: Crude oil production from China oil shales forecast (‘000 bbl/d), 2010–30
Figure 6.24: US CBM production forecast (tcf), 2010–30
Figure 6.25: China CBM production forecast (bcm), 2010–30

LIST OF TABLES

Table 2.1: Crude oil production from Canadian oil sands (‘000 bbl/d), 2005–09
Table 2.2: US shale gas production (tcf), 2004–08
Table 2.3: US CBM production (tcf), 2004–08
Table 2.4: US market demand for western Canadian crude oil, actual and estimated (‘000 bbl/d), (2008–15)
Table 2.5: Canada’s GHG emissions (kilo tons of CO2 equivalent), 2003–07
Table 3.6: Major companies with Shale gas exploration acreage in Europe, 2010
Table 3.7: Select US shale gas stake acquisitions
Table 4.8: Major CBM-to-LNG projects in Australia, 2010
Table 5.9: Venezuela crude oil production, consumption, and exports (‘000 bbl/d), 1990–2008
Table 5.10: Argentina natural gas production and consumption (bcf/d), 2004–08
Table 6.11: Crude oil production from Canadian oil sands forecast (‘000 bbl/d), 2009–25
Table 6.12: Crude oil production from China oil sands forecast (‘000 bbl/d), 2015–30
Table 6.13: US shale gas production forecast (tcf), 2009–35
Table 6.14: US natural gas supply by source forecast (tcf), 2009–35
Table 6.15: Crude oil production from US oil shales forecast (‘000 bbl/d), 2010–30
Table 6.16: Crude oil production from China oil shales forecast (‘000 bbl/d), 2010–30
Table 6.17: US CBM production forecast (tcf), 2010–30
Table 6.18: China CBM production forecast (bcm), 2010–30
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The Unconventional Oil and Gas Market Outlook: The Future of Oil Sands, Shale Gas, Oil Shale and Coalbed Methane
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