A World-Class Resource

Alberta’s energy reserves are among the world’s largest and include bitumen, crude oil, natural gas, natural gas liquids, and coal.

Each year the AER releases an annual reserves and supply report, ST98 2018: Alberta’s Energy Reserves 2017 & Supply/Demand Outlook 2017-2027.

The report is the culmination of hundreds of hours of analysis by AER staff poring over thousands of data sources, scientific reports, economic models, and calculations.

Below are some big takeaways from this year’s report, released this past February.

2017 Numbers

1 Alberta recovers

Total drilling increased
Capital expenditures increases
conventional oil and gas spending increased
GDP increased

2 oil sands news

Oil sands news - Fort hills oil sands mine came online in early 2018 adding 194000 barrels per day of capacity
Horizon phase 3 oil sands mine came online early 2018 boosting production to 250000 barrels per day of upgraded bitumen
oil sands production increased - oil sands production ramped up post fort mcmurray wildfires

3 prices increase

prices increase - proce of WTI increased
Prices increase - price of WCS increased - as demand for heavy canadian crude oil stregthened
sulphur prices increased - over $170us per tonne on q4
AECO-c natural gas price increased

© Alberta Energy Regulator