Heavy Oil Investing News » Canadian cos getting $20 a barrel or less

Canadian cos getting $20 a barrel or less

February 3, 2009 @ 11:40 pm In Heavy Oil Company News

Canadian producers are receiving $20 a barrel or less for their heavy oil, according to some estimates, making it tough to cover costs, particularly when, like Connacher, they also need to buy natural gas to produce the steam that's pumped into the ground to liquefy the bitumen.

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[1] here: http://www.reuters.com/article/reutersEdge/idUSTRE4BG5KV20081217?sp=true