Continued Alberta oil sands production growth seen

Forecasts are starting to indicate a rebound in activity for developing bitumen production from the oil sands in Alberta.Alberta's Energy Resources Conservation Board in its June 2010 update forecasts bitumen production to reach 3.2 million b/d in 2019.1 This rate is an increase from its forecast last year that saw oil sands production increasing to 2.9 million b/d in 2018. Bitumen production from the oils sands in 2009 averaged 1.49 million b/d.ERCB also has increased its estimate of initial bitumen in place to 1,804 billion bbl from the 1,731 billion bbl shown in its 2009 report.For determining its current projections, ERCB expects US West Texas Intermediate to average $78/bbl in 2010 a...

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