The Montney and Duvernay shale plays in Canada are drawing attention from E&Ps on both sides of the border searching for low-cost drilling inventory.
While much of the consolidation in the Lower 48 is focused on oil-producing basins, the Montney and Duvernay regions are primarily natural gas and NGL plays. Natural gas production is important for Canadian shale, but condensate production plays a key role in the economics of the play’s core.
The Lower 48 saw a historic amount of upstream deals during 2023, with the bulk of the transactions focused in the Permian Basin.