emerging producers
EMErging ProDUCErS By Deborah Jaremko aLBeRTa oILsaNDs INc. after the concerns of a group of shareholders forced a new slate of board of directors on alberta oilsands inc. in summer 2012, the company has adjusted its strategy and is pursuing international asset development. meanwhile, it is leaving the application process for its clearwater steam assisted gravity drainage (sagd) project to a third party.
cNooc LIMITeD in 2011, junior firm and 35 per cent owner of the Long Lake sagd project opti canada inc. was acquired by cnooc Limited for $2.1 billion. cnooc is now acquiring nexen inc., which owns the remaining 65 per cent of Long Lake in addition to numerous oilsands and conventional oil and gas assets in canada and internationally, for $15.1 billion. nexen will remain operating as a cnooc subsidiary.
aNDoRa eNeRgY coRPoRaTIoN the subsidiary of calgary-based pan orient energy corp., andora energy corporation is developing a 1,400-barrel-perday sagd project in the peace river oilsands region called sawn Lake. pan orient says andora is fully funded for the pilot, and activities are underway to commence steam injection in the second quarter of 2013, with first production to follow before the end of the year.
DoVeR oPeRaTINg coRP. dover operating corp. is the joint-venture entity of petrochina company Limited and athabasca oil corporation that is developing the dover and mackay river sagd projects north of fort mcmurray. construction is underway on the first 35,000-barrel-per-day phase at mackay river, with first production expected in 2014.
aThaBasca oIL coRPoRaTIoN publicly traded junior athabasca oil corporation is currently executing its first sagd project, at hangingstone, south of fort mcmurray. first oil from the 12,000-barrel-per-day installation is expected in 2014. athabasca has four other project areas on its substantial lease holdings in various stages of early development, including the dover project, which it holds in a 40/60 partnership with petrochina company Limited.
e-T eNeRgY LTD. in 2012, private junior e-t energy Ltd. became the first company to have an oilsands project application denied by alberta regulators, which cited insufficient data on the commercial viability of e-t’s electrothermal dynamic stripping in situ production method. e-t has been piloting the technology on a lease just north of fort mcmurray since 2006. the company is currently working on further testing and is working to re-apply for its commercial project.
BIRchWooD ResoURces INc. in may 2012, private junior Birchwood resources inc. announced plans for a 5,000-barrel-per-day sagd project in the cold Lake oilsands region it calls sage. in december 2012, the company filed regulatory applications for the project.
gRIZZLY oIL saNDs ULc first oil from privately held junior grizzly oil sands uLc’s first sagd project, a modular 5,500-barrel-per-day facility called algar, is anticipated in 2013. through a number of phases at algar and four other projects—including the may river asset grizzly acquired from petrobank energy and resources Ltd.— the company plans to be producing 355,000 barrels per day by 2030.
BLacKPeaRL ResoURces INc. publicly traded junior Blackpearl resources inc. has declared commerciality at its Blackrod sagd pilot, an installation located south of fort mcmurray that started operations in 2011. in may 2012, the company filed regulatory applications for a phased 80,000-barrel-per-day commercial Blackrod project.
BP P.L.c. as the 50 per cent joint-venture owner of husky energy inc.’s sunrise sagd project, Bp p.l.c. will see its first oilsands production as the 60,000-barrel-per-day project is commissioned in 2014. Bp is also the operator of the terre de grace sagd project, a 10,000-barrel-per-day installation with regulatory approval but uncertain timing.
9898
caVaLIeR eNeRgY INc. the oilsands spinoff of paramount resources Ltd., cavalier energy inc.’s main asset is the proposed hoole sagd project south of fort mcmurray. cavalier submitted the regulatory application for the first 10,000-barrel-per-day phase at hoole in november 2012. assuming regulatory approval and favourable market conditions, construction is expected to start in 2014, with first steam in 2015.
w w w. h e av y o i L g u i d e B o o k . c o m
haRVesT oPeRaTIoNs coRP. harvest operations corp., which is owned by korea national oil corporation, started building the 10,000-barrel-per-day Blackgold sagd project south of fort mcmurray in 2010. the project has experienced cost and schedule pressures, and first production is now anticipated in 2014, extended from the original 2013 target.
NoRTh WesT UPgRaDINg INc. in fall 2012, construction on the first 50,000-barrel-per-day phase of the sturgeon refinery began in