Canada heavy oil firms try to weather price storm
Producing heavy oil in Canada, much of which comes from the big oil sands deposits of northern Alberta, is a tough business and it’s getting tougher. For full story, click here
Archive for December, 2008
MegaWest Provides Corporate Update and Files Second Quarter Report
MegaWest Energy Corp., an independent oil and gas company, specializing in non-conventional oil and gas projects with a focus on North American heavy oil, announced that it has provided a corporate update to shareholders. For full tory, click here
Brazil’s Petrobras makes another subsalt oil find
Brazil’s state-run oil company Petrobras said it discovered “large volumes” of light oil in the subsalt layer off the coast of Espirito Santo. For full story, click here
Russia, Venezuela to form ‘strategic’ oil alliance
Venezuelan President Hugo Chavez plans to enter into a strategic alliance with Russia aimed at developing his country’s oil industry, according to a senior government minister. For full story, click here
What price will give good returns from oil sand?
Here’s the threshold below which production from the extra heavy oil sand in Canada would not give a satisfactory return on Investment. For full story, click here
UTS Energy: Dangerous Play?
The stock price of UTS Energy has fallen from about $6 in July to $0.87 and the company’s market-cap is recorded at $412M. For full story, click here
Ivanhoe Energy to develop Pungarayacu heavy-Oil field in Ecuador
Ivanhoe Energy of Ecuador has signed a contract with state oil forms Petroecuador and Petroproduccion to explore and build the Pungarayacu heavy-oil field. The company plans to utilizing its heavy-to-light upgrading technology. For full story, click here
Faragon adjusts to heavy oil, tops Roth in Stockade Open
Bob “Goose” Faragon said reading the lanes and making quick adjustments were the reasons he was able to hold off Al Roth by two pins to win the Western Diner Northern Bowlers Association’s Stockade Open at Boulevard Bowl. For full story, click here
SRIC’s Heavy Oil from Tar Sands report
SRIC’s Heavy Oil from Tar Sands report reviews the status of the global tar sands business focusing on Alberta, Canada where sand deposits represent 174 billion barrels of oil, 15% of the global reserves and second only to Saudi Arabia. For full story, click here
New Tar Sands Projects Can Be Economically Viable
Tar sands are a mixture of hydrocarbon-rich bitumen mixed in sandstone layers. When the hydrocarbons are separated, the bitumen released is a heavy, black and sticky semi-liquid of high viscosity. For full story, click here
