Osum Oil Sands To Buy Shell's Orion Project For C$325 mln
Osum Oil Sands Corp, a private energy company chaired by former Suncor Energy Inc Chief Executive Rick George, agreed on Tuesday to buy Shell Canada's Orion oil sands project for C$325 million ($298.11 million). The Orion project in the Cold Lake region of northern Alberta is close to a number of other oil sands developments and has been producing bitumen since 2007 using steam-assisted extraction methods. In the first quarter of 2014 average production was 6,700 barrels per day from 22 well pairs, and the project is expected to be economically viable for more than 25 years. Osum also owns the nearby Taiga Project, which has secured regulatory approval to build and operate a 35,000-barrel-per-day facility.
Return of the Electric Boat
In the 1880s it was possible to cruise your way around London by an electric ferry on the River Thames. At its height, the river carried 13 launches, each measuring 28 ft. long. They glided along at five knots and had a range of about 60 miles. Each launch carried one ton of storage batteries hidden underneath the passenger seats. Charging stations were even placed along the river so these electric launches could continue up and down unhindered. An article in Scientific American…
Husky Energy Announces 3Q Results
Husky Energy Inc. of 2005. equivalent per day in the third quarter of 2005. barrels per day in the third quarter of 2005. day in the third quarter of 2005. Pool. Government's Innovative Energy Technologies Program. Lake, Alberta, was completed on-schedule and under its $500 million budget. November 2006. production of more than 30,000 barrels per day. work targeted to be complete by the third quarter of 2007. continues to evaluate alternatives for the downstream portion of the project. Projects. evaluated. During the third quarter, Husky acquired 46,080 acres of oil sands leases through Alberta land auctions, which added to our holdings in the Saleski area. averaged 104,700 barrels per day, with 75,900 barrels per day net to Husky.
ExxonMobil Replaces Production for Sixth Year in a Row
Exxon Mobil Corporation announced worldwide additions to its proved oil and gas reserves totaled 1.7 billion oil-equivalent barrels in 1999, replacing 106 percent of production. Exxon Mobil Corporation Chairman Lee Raymond said, "This year's strong performance is the sixth year in a row that we've exceeded 100 percent replacement. The 1999 results were led by significant reserve additions in profitable established areas. These include reserves added in Canada associated with Cold Lake expansions, in Norway at Grane and at the Ringhorne/Forseti discoveries which will be produced through the nearby Balder field extending the life of the Balder facilities, and at LaBarge and South Belridge in the U.S.
