Richer Barrels Ahead: Higher Yields Reshaping Canadian NGL Supply

In this insight, we examine how Western Canada’s gas growth is becoming increasingly liquids-rich, with basin-level gains driven by a small number of high-impact plays rather than a broad-based uplift. Montney and Duvernay remain the core engines of WCSB liquids growth: Duvernay continues to lead the basin in liquids richness, while Montney is delivering the strongest structural uplift in NGL intensity and the largest contribution to incremental volumes. Rising C3+ yields, particularly condensate, continue to support drilling economics and attract capital. We also show that basin growth is dual-tracked, with premium liquids-rich subplays complementing large-scale gas growth in Northern BC and the Deep Basin. Finally, processing, fractionation, and straddle infrastructure across Alberta and British Columbia has broadly kept pace with supply growth, positioning the region well for further NGL-rich production growth.