The Duvernay Shale in Canada holds tremendous potential, and several energy companies are showing interest in exploring the region, said Wood Mackenzie analyst Andy McConn. "There still is a large amount of delineation drilling to do, or basically just appraising and figuring out where the sweet spots are," McConn said. According to the Alberta Geological Survey, the shale play contains around 62 billion barrels of oil and 440 trillion cubic feet of natural gas.

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