Condensate Development in Alberta
Since 2008, oil and gas organizations have a growing interest in condensate due to its value to the oil sands distribution process, and because it fetches a premium over the price of crude oil.
Condensate
Condensate is a light hydrocarbon that is classified as gas and can occur in liquid form at ground surface conditions. In Alberta, it is differentiated from oil primarily on fluid density at stock tank conditions. The phase of condensate, as a gas or liquid, depends on temperature and pressure conditions.
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Alberta Energy Regulator's oil and gas fluid classification and fluid density.
Condensate can be associated with gas or oil reservoirs. There are two geological formations that are responsible for over 70% of the annual produced condensate in Alberta: the Montney and Duvernay formations.
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Montney Formation Condensate Reserves
Duvernay Formation Condensate Reserves
Condensate is a key component used to dilute bitumen produced from the oil sands, allowing it to flow easily through the pipelines to market. Production from the Duvernay and Montney formations is easily transported to the Canadian oil sands through existing infrastructure, which creates a positive production growth outlook for these formations. Condensate also has high value as feedstocks for the petrochemical industry.