Connacher delays oil sands expansion, names CEO
Feb. 22, 2012
Connacher Oil & Gas Ltd., Calgary, which last month disclosed a strategic review following key management changes, has delayed the planned expansion of its Alberta oil sands production project and named an interim chief executive officer (OGJ Online, Jan. 20, 2012).
The company operates two 10,000 b/d steam-assisted gravity drainage production projects in its 37,120-acre Great Divide Project Area south of Fort McMurray, Alta.
It earlier planned to expand production capacity by 24,000 b/d, with output starting in 2013 (OGJ Online, June 23, 2010).
In a Feb. 21 statement, Connacher said the expansion would occur in two stages with 12,000 b/d capacity each, coming online in 2014 and 2016.
In the statement, the company said Peter D. Sametz, formerly president and chief operating officer, has been appointed interim chief executive officer.
Two Connacher directors began overseeing operations in mid-January (OGJ Online, Jan. 13, 2012).
In addition to the oil sands interests, Connacher owns a 9,500 b/d heavy oil refinery in Great Falls, Mont., and holds interests in conventional oil and gas properties in central Alberta.
Bob Tippee has been chief editor of Oil & Gas Journal since January 1999 and a member of the Journal staff since October 1977. Before joining the magazine, he worked as a reporter at the Tulsa World and served for four years as an officer in the US Air Force. A native of St. Louis, he holds a degree in journalism from the University of Tulsa.
