Baytex buys oil sands acreage, plans pilot

Baytex Energy Corp., Calgary, plans to begin pilot thermal recovery project next year on oil sands acreage it has acquired in the Cold Lake region of northeastern Alberta.

It acquired a 100% working interest in 46 sections of undeveloped oil sands leases on which a two-stage steam-assisted gravity drainage project has been approved. Total consideration was $120 million.

Baytex didn’t identify the seller. A map on its web site indicates the acreage encompasses Koch Exploration Canada Corp.’s Gemini project, for which provincial authorities have conditionally approved a 1,200-SAGD pilot and a 10,000-b/d development (OGJ Online, Mar. 14, 2012). The conditions relate to protection of ground and surface water.

Baytex said success of the pilot could be followed by a commercial 5,000-b/d project starting in 2014 with initial production in 2016.

It said the acquired acreage has potential for cold as well as thermal production.

Related Articles

Husky, CNOOC start production from Liwan 3-1


Husky Energy Inc., Calgary, and CNOOC Ltd. reported the start of production from Liwan 3-1 field in the South China Sea.

Lukoil starts production at West Qurna-2 field

03/31/2014 Lukoil Mid-East Ltd. has started production at Iraq’s West Quarna-2 oil field after reaching its target of 120,000 b/d on Mar. 28. The company says...

White House eyes steps to curb oil, gas methane emissions

03/29/2014 The White House announced additional steps to reduce methane emissions from oil and gas operations as part of a broader strategy. They included reg...

Baker Hughes: US drilling rig count rebounds to 1,809

03/28/2014 The US drilling rig count gained back the 6 units it lost last week to reach 1,809 rigs working during the week ended Mar. 28, Baker Hughes Inc. re...

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