Natural Gas vs. Crude Oil Parity In U.S. and Canada

From: Energy Processing Canada | Date: November 1, 2003| Author: | Copyright information

INTRODUCTION

On January 24, 2003, the Canadian securities Administrators published the "Proposed National Instrument 51-101," which contains standards of disclosure for oil and gas activities.1 One standard prescribes a ratio for the barrel of oil equivalency (BOE) for natural gas of six thousand cubic feet (Mcf) per barrel (BbI) of crude oil. The 6:1 standard is based on thermal equivalence or gross heating values.2 This article examines the market value of natural gas in Alberta and the U.S. Mid-Continent relative to light crude oil, and the correspondence with the proposed standard.

During ...

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