Paramount's Cavalier applies for Hoole SAGD project

Cavalier Energy Inc., a subsidiary of Paramount Resources Ltd., Calgary, has filed a regulatory application for the Hoole Grand Rapids project with the Alberta Energy Resources Conservation Board and Alberta Environment and Sustainable Resource Development.

The Hoole project involves a 10,000 b/d in situ steam-assisted gravity drainage oil sands development in and around 9-23-81-24w4 southwest of Fort McMurray, Alta.

Subject to receiving regulatory approval, the current Hoole project schedule anticipates first steam in the second half of 2015 and the first full year of production in 2016.

If regulatory approval were received in the first quarter of 2014, site work, module fabrication, and drilling initial well pairs could begin later that year, Cavalier indicated.

Cavalier said the capital cost of $45,000/b/d assumes a steam-oil ratio of 3:5 in the Grand Rapids formation and that stronger reservoir performance is expected to reduce that number.

Cavalier sees the Hoole project as a “great platform from which to grow Cavalier into a significant oil sands production company.”

Cavalier expects to receive a reserves report for the project from its independent engineering evaluators in the first quarter of 2013.

A second phase could involve first steam at the end of 2012 boosting production to 35,000 b/d, and a third phase could begin steaming at the end of 2021 to maintain the 35,000 b/d rate. Phase 2 and 3 capital costs are $1.4 billion and $1.3 billion respectively, including facilities, drilling, and completion.

Paramount said Hoole will be its first operated, strategic investment in the oil sands.

Related Articles

ExxonMobil replaces 103% of 2013 production

02/21/2014 ExxonMobil Corp. replaced 103% of its oil and natural gas production last year with additions to reserves, mostly of crude oil and other liquids.

Hydraulic fracturing stuck in New York policy vacuum

02/01/2014 Persistent institutional indecisiveness by elected officials in New York State has placed the state in the position of not having a statewide polic...

Contact hails Kakwa Montney tight gas-liquids well results

10/16/2013 Contact Exploration Inc., Calgary, said completion of its fourth operated horizontal Middle Montney formation tight gas-liquids well extends the sc...

Watching Government: BC Premier's energy stance

10/14/2013 British Columbia will not budge on its requirements proposed heavy oil export projects must meet, Premier Christy Clark said on Oct. 4. But that do...

Cyclic steam, gas enhance Bohai heavy oil production

10/07/2013

This article presents preliminary results of stimulation principles and offshore oilfield testing of cyclic steam and gas stimulation.

Understanding the science behind induced seismicity

10/01/2013 For several decades in the US, earthquakes occurred at a steady rate of 21 events per year. Beginning in 2001, this rate began to increase and peak...

Wyoming delegation asks Jewell to exempt state from BLM fracing rules

08/20/2013 Wyoming’s congressional delegation asked US Sec. of the Interior Sally Jewell to exempt the state and others that already regulate hydraulic fractu...

Sunshine signs oil sands JV, slows West Ells work

08/20/2013 Sunshine Oilsands Ltd., Calgary, signed a framework agreement with an undisclosed international third party to pursue a joint venture involving its...

Promise vs. obstructionism

08/12/2013 North America's energy transformation has progressed on two important fronts outside the US, where revulsion toward nongaseous hydrocarbons increas...
White Papers

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

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


Cognitive Solutions for Upstream Oil and Gas

When Fri, Jun 12, 2015

The oil & gas sector is under pressure on all sides. Reserves are limited and it’s becoming increasingly expensive to find and extract new resources. Margins are already being squeezed in an industry where one wrong decision can cost millions. Analyzing data used in energy exploration can save millions of dollars as we develop ways to predict where and how to extract the world’s massive energy reserves.

This session with IBM Subject Matter Experts will discuss how IBM Cognitive Solutions contribute to the oil and gas industry using predictive analytics and cognitive computing, as well as real time streaming for exploration and drilling.

register:WEBCAST


The Alternative Fuel Movement: Four Need-to-Know Excise Tax Complexities

When Thu, Jun 4, 2015

Discussion on how to approach, and ultimately embrace, the alternative fuel market by pulling back the veil on excise tax complexities. Taxes may be an aggravating part of daily operations, but their accuracy is crucial in your path towards business success.

register:WEBCAST



On Demand

Prevention, Detection and Mitigation of pipeline leaks in the modern world

Thu, Apr 30, 2015

Preventing, detecting and mitigating leaks or commodity releases from pipelines are a top priority for all pipeline companies. This presentation will look at various aspects related to preventing, detecting and mitigating pipeline commodity releases from a generic and conceptual point of view, while at the same time look at the variety of offerings available from Schneider Electric to meet some of the requirements associated with pipeline integrity management. 

register:WEBCAST


Global LNG: Adjusting to New Realities

Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


Emerson Micro Motion Videos

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