Connacher unwilling to keep pumping out its reserves
Connacher said that prices are so low it can no longer cover its costs and is unwilling to keep pumping out its reserves at a loss. For full story, click here
Articles Tagged "reserves"
Oil-Sands Spending to decline 20%
Energy firms are cutting back development of Canadian oil sands, the world’s biggest energy reserves outside Saudi Arabia, as crude prices plunge and processing costs become prohibitive. For full story, click here
Oil reserves are a function of price
Oil reserve totals depend on the price of the oil. The reason for high oil prices is due to artificial supply constraints. There are large reserves of “heavy oil” which could be recovered for less than $50 a barrel. For more information on this story, click here
