AAPG Memoir 74, Chapter 8: Petroleum Resources of Canada in the Twenty-First Century

Remaining reserves of marketable crude oil and natural gas in Canada are more than 1.43 billion [109] m3 (9 billion bbl) and 1.84 trillion [1012] m3 (65 trillion cubic feet [tcf]), respectively. These reserves enable current annual extraction rates of 127 million m3 (800 million bbl) of oil and 170 billion m3 (6 tcf) of natural gas, mainly from the mature Western Canada Sedimentary Basin. In the new millennium, expanded contributions to production capacity will come initially from the Mesozoic Jeanne d'Arc Basin (e.g., Hibernia and Terra Nova oil) offshore Newfoundland and from basins off Nova Scotia (e.g., Sable Island gas). In northern Alberta, additional investment in exploiting the Cretaceous oil sands will enhance the production of upgraded (synthetic) crude oil, bitumen, and heavy oil.