In its June report on Alberta’s 2008 reserves and supply-demand outlook for 2009-18, Alberta’s Energy Resources Conservation Board has lowered its forecast of bitumen production to 2.7 million b/d in 2018. Last year’s report showed production reaching 3.2 million b/d in 2017. For full story, click here
After selling $200 million of first-lien senior secured notes, Connacher Oil & Gas Ltd., Calgary, announced that it would reactivate its plan to construct the Algar project, a project similar in size to its first steam-assisted gravity drainage project, Great Divide Pod-1, in northeastern Alberta. For full story, click here
In its June report on Alberta’s 2008 reserves and supply-demand outlook for 2009-18, Alberta’s Energy Resources Conservation Board lowered its forecast of bitumen output to 2.7 million b/d in 2018. Last year’s report showed production reaching 3.2 million b/d in 2017. For full story, click here
Output from Alberta’s oil sands region, the leading crude reserves outside the Middle East, will surge to 3 million barrels per day by 2018. For full story, click here
Output from Alberta’s oil sands region, the leading crude reserves outside the Middle East, will surge to 3 million barrels per day by 2018, the province’s energy regulator, even as it slightly lowered its estimate of the region’s reserves. For full story, click here
Energy Quest, Inc. , an emerging leader in alternative energy, declared that its wholly owned subsidiary, WaveChem, Inc. has continued its plans on the development and construction of its Heavy Crude Oil Upgrader located in Alberta. Wilf Ouellette, President and CEO of Energy Quest, stated: Energy Quest feels its upgrader technology has a great potential [...]
Canadian church leaders are going to take a hard look at how Alberta’s oil sands are affecting aboriginals, communities and the environment. Mary Corkery, executive director of the Kairos social justice group, stated: This is an issue of great importance to Canada and the world and we need to be present and see what our [...]
Optimism in Alberta is on the surge with heavy oil closing at a six month high on Wednesday. Benchmark light crude oil surged $1 to close at just over $63 US per barrel. For full story, click here
A plan by Canadian National Railway Co. to deliver Alberta’s heavy oil in tanker cars rather than pipelines could save oil firms billions of dollars while helping smaller oilsands projects south of Fort McMurray get product to market, the North American rail giant believes. For full story, click here
A new, independent evaluation of the oil sands resource at the Tamarack project in Alberta surged best-estimate contingent resources to 441 million barrels of recoverable oil, representing an 81% increase over the comparable estimate announced when this asset was purchased in mid-2008. This new estimate would support a 50,000 barrel-per-day HTL Heavy-to-Light heavy oil project [...]
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