BlackRock approved for Hilda Lake thermal SAGD project

By OGJ editors

HOUSTON, Oct. 21 -- BlackRock Ventures Inc., Calgary, has received environmental and Alberta Energy and Utilities Board approvals to develop the company's 20,000 b/d Orion steam-assisted gravity drainage (SAGD) property as a commercial oil sands project at Hilda Lake in Alberta.

BlackRock, 100% owner of the property, has recovered 1.2 million bbl of oil operating a pilot at Hilda Lake for more than 7 years. Orion has the potential to recover as much as 190 million bbl of oil during a 25-year project life, BlackRock said.

The company will seek board of directors approval in November to begin the $10 million detailed engineering for the commercial project. Phase I is expected to cost $150 million and produce 10,000 b/d of oil.

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