Canada’s oilsands is the third largest deposit of oil on earth, with reserves of approximately 168 billion barrels and potential resources of up to 1.8 trillion barrels. There are three main oilsands deposits, Athabasca, Cold Lake, and Peace River, as well as significant processing and transportation infrastructure in Alberta's Industrial Heartland.
More than $200 billion of new capital investment is expected in the oilsands between 2013-2022, in addition to ongoing spending on maintenance, repair and operations. This is one of Canada's most dynamic and important industries.
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There appears to be one word that currently describes module fabrication capacity in Alberta and Montana—underutilized. The most recent analysis of committed work backlog by acreage, conducted by Ground State Market Solutions, shows a deteriorating situation, with 60 per cent ...Read the full story
Southern Pacific Resource Corp. says early results indicate inflow control devices (ICDs) on wells at its STP-McKay thermal project have the potential to generate meaningful improvements in production and steam-to-oil ratios (SORs). ICDs, designed to improve horizontal wellbore conformance by ...Read the full story
A projected capital cost overrun of 50 per cent would raise eyebrows in any industry, but particularly for those who watch and play in the Alberta oilsands, this kind of announcement can trigger well-deserved concern. In late 2013, the partners ...Read the full story
Federal Minister of Natural Resources Joe Oliver preached the benefits of the proposed Keystone XL pipeline to an audience in Houston, Texas, on Tuesday, noting the project could be a “potential contributor to our shared objective of energy self-sufficiency.” In ...Read the full story
The same day in October 2013 that Suncor Energy Inc. gave the green light to its massive Fort Hills oilsands mine north of Fort McMurray, Royal Dutch Shell plc made its own momentous announcement—the long-awaited sanction of its 80,000-barrel-per-day Carmon ...Read the full story