Ember Resources has climbed into the top 15 ranking of Canadian natural gas producers, concentrating on a part of the business many thought the shale revolution had killed off.
The private company, which is backed by Brookfield Asset Management Inc., has become a consolidator of Alberta properties producing coalbed methane (CBM).
Its extraction of natural gas from coal seams has helped the company to prosper, even with gas prices well below last year’s levels.
The company performed somewhat of a coup in October 2014, when it agreed to purchase the Clearwater CBM assets from Encana Corp. Ember Resources bought the CBM site for approximately C$605 million and with it assumed ownership of 6800 producing wells with an average production of approximately 180 million ft3/day.
Such smart plays have helped the natural gas producer to climb the rankings and establish itself as a key player in the industry. With recent studies suggesting 2015 will be a bumper year for CBM while the conventional gas suffers a decline, it seems as though Ember is only set to prosper further from its intelligent backing of CBM.
Written by Sam Dodson
Read the article online at: https://www.worldcoal.com/cbm/23012015/ember-resources-cbm-play-pays-dividends-cbm195/