Oil And Gas Promising In Nechako Basin

Wednesday, June 17, 2009 12:21 PM

Prince George, B.C. - New seismic data is now available for oil and gas exploration in the Nechako region, west of Quesnel.

The new results demonstrate that in some parts of the region ,rock units with oil and gas reservoir potential can be successfully imaged with modern seismic technology.

"In the BC Energy Plan, the government committed to establishing new data for evaluating the petroleum resource potential of the Nechako region, and this project fulfils a key piece of that promise," says Blair Lekstrom, Minister of Energy and Mines.

"The oil and gas industry is a vital part of a healthy B.C. economy, and the information gathered from this survey will assist in the responsible development of British Columbia's natural resources."

The seismic survey was conducted to help explore the oil and gas potential in the heart of the mountain pine beetle-affected area of interior B.C. The survey was conducted in the summer of 2008, at a cost of $2.5 million, and was part of a $5-million provincial grant to

Geoscience BC in 2005. The project is part of a larger provincial- federal collaborative effort to improve geoscience knowledge of the region, in order to reduce investment risk and encourage petroleum exploration.

As part of this program, the Ministry of Energy, Mines and Petroleum Resources has also released new geological maps, gravity and magnetic data, petroleum source rock studies, and reservoir rock evaluations of the Nechako.

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Posted on Wednesday, June 17, 2009 12:21 PM in News by 250 News

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Comments

Posted by: Oldun on June 17 2009 9:33 PM

Let me see if I have this right. The BC Government is spending 5 million to find gas and oil for the oil companies who in turn will rip off the public at the gas pumps. However some of the 5 mil will be recovered with Gordo's gas tax grab. Makes sense to me even though the 5 mil comes from the taypayer since the government has no money. Bottom line; I'm paying taxes so the oil companies can skin me at the pump.

Posted by: dow7500 on June 17 2009 10:57 PM

Brilliant reasoning oldun.....NOT!! A producing field would be a huge employment source which is badly needed in this area. The price of gasoline at the pumps is a different issue. Much of the prospective formations are natural gas as well.