Quote: Originally Posted by taxslave
If memory serves correct they drilled a total of twelve holes. All areas considered worthy of further exploration were quickly placed under a moritorium. There is at least one spot in the Charlottes where oily substance bubbles to the surface.
It is not so much the oil companies that are ripping us off with high gas prices, rather it is speculators who play on the commodities market. All they own is a phone and a computer. Make them take physical delivery and prices will soon be in line with production costs.
To be more exact:
Quote, geological survey of Canada:
Geological and geophysical petroleum exploration of these basins has occurred at an
inconsistent pace since the beginning of the last century. The most vigorous and
extensive exploration was conducted by Shell Canada Ltd in the offshore portions of
Tofino and Queen Charlotte basins in the mid to late 1960s, culminating in 6 wells drilled
in the former basin and eight in the latter basin. Additional marine seismic surveys were
carried out by Chevron Canada Limited in 1971.
Four wells have been drilled into Tofino Basin strata on the Olympic Peninsula of
Washington. In addition to 23 wells drilled in the Fraser Lowlands of Georgia Basin, 95
wells have been drilled in the U.S. portion of the basin, the majority of which are shallow
and probably drilled as water wells. Several slim-hole wells have tested the sedimentary
strata in the Nanaimo, Parksville and Comox regions of Georgia Basin.
Given that the totality of this exploration in the three basins was not extensive, no
commercial quantities of hydrocarbons have been found. Before and since the
implementation of the moratoria on offshore drilling the federal government and
universities have conducted geological and marine geophysical studies, including gravity,
magnetic and seismic surveys, in the four basins.
Like I said before, no real luck so far.
Structure and sedimentary geology indicate multiple potential gas traps.
Oil not so much, but always possible especially further north.
Gas is pretty much a sure thing offshore BC but these days you cant give the stuff away in any case.
Why spend 1/2 mill a day drilling offshore BC when you can go up to the new Horn River shales on land and drill a great gas well as a sure thing for a tenth of the cost?