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More on the next shale play….
“The Utica shale gas deposit, which lies beneath Quebec and north of New York state, has huge production potential, high-quality gas and proximity to a ready market and the companies dug in there don’t want to sell.
“Those firms include Questerre Energy, Canadian Quantum Energy, Talisman Energy, Forest Oil and Gastem.
“Utica’s potential was highlighted in a 2007 survey by Encana as covering over 1 million acres with estimated reserves of 163 trillion cubic feet (Tcf) of gas, or 88 billion cubic feet per square mile.
“You are literally talking trillions of cubic feet of production potential, worth billions of dollars,” Industrial Alliance analyst Adam Marchionni said.”
The rest of the story at Quebec shale gas play defies industry M&A trend.
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