A Leader in Independent Engineering and Geological Services

GLJ Petroleum Consultants is a premier oil and gas resource consulting firm located in Calgary, Alberta, Canada. We are the market leader in Canadian evaluations and have dedicated professionals with the experience, expertise, and reputation to handle essentially any petroleum resource assessment situation worldwide.

Along with extensive industry experience in conventional Canadian and international oil and gas project evaluations, we also specialize in detailed assessments of unconventional resources. Follow this link to a map of our experience.

GLJ’s in-depth industry knowledge and distinguished reputation benefits a diverse group of clients from small business to large integrated multi-national E&P’s, as well as financial institutions. Our dedicated team of engineering and geoscience professionals is committed to providing unparalleled customer service, and our flexible proprietary software allow us to customize results to suit unique needs.


Our WTI oil price forecast remains unchanged at 97.50 USD/bbl for the next six years before increasing with inflation at a long term price of 87.50 USD/bbl (in 2014 dollars) thereafter. Our Henry Hub gas forecast is again slightly higher in the near term relative to our previous forecast due to the cold winter and depleted storage levels, but is unchanged thereafter, escalating to a long term price of 5.00 USD/MMBtu (in 2014 dollars) by 2020. Our WTI-Brent differential forecast is 10.00 USD/bbl in 2014 and narrows to 2.50 USD/bbl (in 2014 dollars) by 2021 . Our Edmonton to WTI light oil differential forecast has narrowed in the near term to just 5.00 USD/bbl in 2014, narrowing further to 2.50 USD/bbl by 2016. Our exchange rate forecast has moved from 0.95 USD/CAD to 0.90 USD/CAD, and our inflation forecast remains at a flat 2%. Details are presented in our April 1, 2014 Commodity Price Report and Pricing Tables.

Caralyn Bennett, P. Eng. – Vice President Oil Sands presented In Situ Oil Sands Plays and Technologies at the recent CIBC High Yield Conference March 20, 2014 in Calgary Alberta.  The presentation describes the current status of development, emerging plays and technological advancements within the oil sands. 

 

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Our Data Analytics Partner:

VISAGE

Visage Information Systems is an industry leader in self-serve visual analytics for the oil and gas industry, utilizing both public and proprietary data.

Commodity Price Forecasts

GLJ has developed the current product price forecasts based on comprehensive analysis of oil and gas supply and demand data and market trends.

Summaries of GLJ Quarterly Forecasts can be found here.