The study estimates that the two shale fields could hold around 145 billion barrels and 46 billion barrels of oil, respectively. However, the recoverable amount of reserves has not been calculated over pending well-test results.
Northwest Territories Industry, Tourism and Investment Minister David Ramsay said: "This new research complements the ongoing science to monitor permafrost, seismic activity and water in the region.
"If developed, these petroleum resources would create jobs and business opportunities and provide royalties to the GNWT and Aboriginal governments to support investment in northern priorities."
NEB and NTGS said it was not clear whether the shales can achieve production.
NEB strategy and analysis vice-president Jim Fox said: "Resource assessments with our provincial and territorial partners are an important part of the Board’s business, because they help to increase market transparency while also informing policy makers, stakeholders, and First Nations of resource potential."
