Osum expands its Grosmont carbonates acreage in Alberta

By OGJ editors
HOUSTON, May 16
-- Osum Oil Sands Corp. acquired 32,640 acres of oil sands leases in the Saleski Grosmont carbonate region of northern Alberta. The new leases are contiguous to Osum's existing carbonate holdings complementing the previous 100% owned Saleski acreage and the company's joint venture acreage.

Shell Canada Ltd. was the reported seller, according to various media sources.

Osum will refer to the new lease area as Saleski West and will refer to its previous Saleski 100% acreage as Saleski East.

An independent reservoir evaluator has assigned 870 million bbl of best estimate contingent resources (P50) to Saleski West, which includes Grosmont C and D horizons and Ireton. This increases by 36% Osum's best estimate contingent resources, bringing the corporate total to 3,258 million bbl, plus 360 million bbl of proved plus probable (2P) reserves, Osum said.

Osum noted that the contingent resources at Saleski West could support total production of 80,000 b/d which increases Osum's total long-term sustained production potential from its reserve and resource base by 30% to 350,000 b/d.

A steam-assisted gravity drainage project on the Saleski JV acreage started in December 2010. Laricina Energy Ltd. is the operator of the pilot and holds a 60% interest in the property. Osum holds the remaining 40% (OGJ, Dec. 21, 2009, Newsletter).

Osum is continuing to delineate its 100% owned Saleski East acreage and last winter completed a 19 well core program.

Related Articles

Husky reports start of steam operations at Sunrise oil sands project

12/12/2014

Husky Energy, Calgary, reported the start of steam operations at the in situ Sunrise Oil Sands Project in northeastern Alberta.

Kearl resumes oil sands production, Imperial reports

12/09/2014 Imperial Oil Ltd., Calgary, has resumed production at its Kearl oil sands operations in Alberta after a precautionary shutdown due to a “vibration ...

Nexen starts bitumen production at Kinosis 1A in Alberta

12/08/2014 China National Offshore Oil Corp. Ltd. reported the start of bitumen production at the Kinosis 1A (K1A) steam-assisted gravity drainage (SAGD) faci...

Suncor wraps maintenance on Alberta upgrader

12/01/2014 Suncor Energy Inc. has completed 11 weeks of scheduled maintenance on one of two oil sands upgraders at its operations near Fort McMurray, Alta.

Senate debates, then barely rejects, Keystone XL approval bill

11/19/2014 The US Senate finally debated a bill authorizing construction of the proposed Keystone XL crude oil pipeline on Nov. 18 before rejecting the measur...

Cenovus receives approvals for Telephone Lake oil sands project

11/18/2014 Cenovus Energy Inc., Calgary, has received approval from the Alberta Energy Regulator (AER) and the province of Alberta for its wholly owned Teleph...

Saudis have reasons better than shale to let prices fall

11/17/2014 Only by overlooking important forces in markets and politics can anyone assert that Saudi Arabia is letting crude prices fall mainly to extinguish ...

Oil sands 2014-38 outlay to top $514 billion

11/17/2014 Total investment in Canadian oil sands projects during 2014-38 will exceed $514 billion (2013 Can.), according to the Canadian Energy Research Inst...

Imperial shuts down Kearl oil sands due to ‘vibration issue’

11/11/2014 Imperial Oil Ltd., Calgary, reported a precautionary shutdown of its Kearl oil sands operations in Alberta due to a “vibration issue” with the plan...

White Papers

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by

AVEVA NET Accesses and Manages the Digital Asset

Global demand for new process plants, power plants and infrastructure is increasing steadily with the ...
Sponsored by

AVEVA’s Approach for the Digital Asset

To meet the requirements for leaner project execution and more efficient operations while transferring...
Sponsored by

Diversification - the technology aspects

In tough times, businesses seek to diversify into adjacent markets or to apply their skills and resour...
Sponsored by

Engineering & Design for Lean Construction

Modern marketing rhetoric claims that, in order to cut out expensive costs and reduce risks during the...
Sponsored by

Object Lessons - Why control of engineering design at the object level is essential for efficient project execution

Whatever the task, there is usually only one way to do it right and many more to do it wrong. In the c...
Sponsored by

Available Webcasts



The Future of US Refining

When Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST



On Demand

Oil & Gas Journal’s Forecast & Review/Worldwide Pipeline Construction 2015

Fri, Jan 30, 2015

The  Forecast & Review/Worldwide Pipeline Construction 2015 Webcast will address Oil & Gas Journal’s outlooks for the oil market and pipeline construction in a year of turbulence. Based on two annual special reports, the webcast will be presented by OGJ Editor Bob Tippee and OGJ Managing Editor-Technology Chris Smith.
The Forecast & Review portion of the webcast will identify forces underlying the collapse in crude oil prices and assess prospects for changes essential to recovery—all in the context of geopolitical pressures buffeting the market.

register:WEBCAST


Optimizing your asset management practices to mitigate the effects of a down market

Thu, Dec 11, 2014

The oil and gas market is in constant flux, and as the price of BOE (Barrel of Oil Equivalent) goes down it is increasingly important to optimize your asset management strategy to stay afloat.  Attend this webinar to learn how developing a solid asset management plan can help your company mitigate costs in any market.

register:WEBCAST


Parylene Conformal Coatings for the Oil & Gas Industry

Thu, Nov 20, 2014

In this concise 30-minute webinar, participants have an opportunity to learn more about how Parylene coatings are applied, their features, and the value they add to devices and components.

register:WEBCAST


Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected