Oil Sands

Surprising to many, Canada is the No. 1 oil exporter to the United States. Increasingly, these supplies come from Canada’s oil sands in northern Alberta. That province’s estimated oil sands deposits are in excess of 1.7 trillion barrels of crude bitumen. More than $91 billion has been invested in the oil sands in recent years and over $170 billion in oil sands-related projects. Venezuela and California are also heavy oil producers.

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Canadian Oil Sands
Canadian Oil Sands

Oil Sands News

Foster Creek resumes operations after CLAWR forest fire

Jun 11, 2015

Cenovus Energy Inc. reported on June 11 that it has resumed operations at its Foster Creek oil sands project in northern Alberta after a forest fire on the Cold Lake Air Weapons Range (CLAWR) led to a precautionary, 11-day shutdown of the operation on May 23.

SPE Conference: Heavy oil development requires long-term view, incoming president says

Jun 9, 2015

Speaking to a half-empty auditorium that reflected the tough economic environment of the North American onshore market, Janeen Judah, the incoming president of the Society of Petroleum Engineers, addressed the problems facing heavy oil.

ConocoPhillips reports first steam from Surmont 2 in Alberta

Jun 1, 2015

ConocoPhillips reported first steam on May 29 from Phase 2 of its Surmont oil sands project in the Athabasca region of northeastern Alberta.

La Jolla Conference: Industry panel bullish on oil prices, but sees more suffering to come

Jun 1, 2015

Crude oil prices are still about half their value compared with a year ago, but the now prolonged slump is unfolding such that another rise could be on the horizon, a panel of industry observers agreed on May 20 during the XXIV La Jolla Energy Conference in La Jolla, Calif.

Forest fire causes Cenovus to shutter Foster Creek facilities

May 26, 2015

Cenovus Energy Inc. halted production on May 23 from its Foster Creek oil sands and Athabasca natural gas operations as a precaution due to a forest fire about 25 km south on the Cold Lake Air Weapons Range (CLAWR) in northeastern Alberta.

Husky begins steam operations at Rush Lake heavy oil project

May 21, 2015

Husky Energy Inc. has started commercial steam operations at the 10,000-b/d Rush Lake heavy oil thermal project in Saskatchewan (OGJ Online, Dec. 12, 2014).

Cold Lake project expansion starts production

May 11, 2015

ExxonMobil Corp. has started bitumen production at the $2-billion Cold Lake Nabiye project expansion in northeastern Alberta.

Husky Energy reports net earnings of $191 million (Can.)

May 6, 2015

Husky Energy Inc. reported first-quarter net earnings of $191 million (Can.) compared with a loss of $603 million in the previous quarter and year-ago earnings of $662 million.

Symbols in Sect. 526

Apr 27, 2015

Reintroduction of a bill to repeal Sect. 526 of the Energy Independence and Security Act comes at a fateful time.

The price signal

Apr 13, 2015

Price, as everyone knows, represents a signal to buyers and sellers about conditions in the oil market. It's information that guides behavior.

NEB sees growth in bitumen production through 2018

Mar 31, 2015

Despite budget cuts for oil sands projects, Canada’s National Energy Board reports the potential of an additional 1 million b/d through 2018. Current bitumen production is less than 2.5 million b/d.

Delayed West Ells SAGD project to start up this summer

Mar 27, 2015

Full first steam from the West Ells thermal oil sands project in the Athabasca region of Alberta is slated to commence in late June, with production launch in September.

Canadian oil industry jobs, revenues plunge

Mar 26, 2015

The Canadian oil industry will shed nearly 8,000 jobs this year as revenues fall by $43 billion (Can.) in response to the plunge in oil prices, predicts the Conference Board of Canada.

Alberta introduces oil sands environmental requirements

Mar 23, 2015

Alberta introduced new requirements to control tailings ponds and regulate water use from the Athabasca River as part of the Canadian province's efforts to reduce oil sands development impacts.

Nexen to cut 400 jobs in North America, UK

Mar 18, 2015

Nexen Energy ULC, a wholly owned subsidiary of CNOOC Ltd., has reported organizational changes that will result in the reduction of 340 jobs in North America and 60 jobs in the UK, spurred by the decline in crude oil prices.

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