The current downturn in oil prices has underscored the need to improve oilsands technologies. Various efforts are underway, but haven’t always made major headlines. This week the Daily Oil Bulletin looks at some unreported or under-reported efforts and discussions aimed at improving oilsands and heavy oil economics through technological improvement.
Bitumen could one day be transformed into lighter oil within the reservoirs of Alberta’s SAGD projects at lower costs, and with half of the greenhouse gas (GHG) emissions of a diluted or synthetic bbl of oil.
The Alberta government attracted $4.13 million in bonus bids on Wednesday. Year-to-date the government has collected $117.9 million on 691,696 hectares at an average price of $170.45. The bonus figure is a fraction of the billions spent by industry over the past 10 years as producers tied up prospective oilsands land and acreage for other resource plays like the Montney and Duvernay.
Keep your workers safe, comfortable, and productive with an uninterrupted supply of industry-compliant workwear and safety PPE that’s built to withstand the worst weather conditions. Even in the best of weather, the rigours of the oil and gas industry can be extreme.
In accordance with the Atlantic Accord Acts, the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) advised of its proposed issuance of an exploration licence to Corridor Resources Inc. in exchange for a surrender of existing Exploration Licence No. 1105 in the Canada-Newfoundland and Labrador Offshore Area.
Quattro Exploration and Production Ltd. announced the engagement of Durham Capital Canada Corporation as its financial advisor to assist with the company’s pursuit and evaluation of various options with respect to a proposed funding of up to $25 million in senior or subordinated debt, supported by the remaining assets of the company upon the completion of its $24.5 million divestiture plan initially announced on Aug. 4, 2016.
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