Canada's energy industry may be most famous for its world-class oil sands resources. But a new shale oil field could surpass the oil sands as Canada's largest untapped oil reserve.
In fact, it could even rival the massive Bakken shale of North Dakota in terms of recoverable oil.
This area lies north of British Columbia and east of the Yukon. It's the Northwest Territories.
Recent data from Canada's National Energy Board (NEB) and the Northwest Territories Geological Survey shows that this area holds as much as 200 billion barrels of shale oil reserves. That compares to U.S. Geological Survey estimates that the Bakken shale formation will yield up to 7.4 billion barrels.
Not all of this Canadian oil is necessarily recoverable. But the Canol and Bluefish shales contain a total approaching 7 billion barrels of economically viable resources.