By OGJ editors
HOUSTON, Mar. 30 -- BlackPearl Resources Inc., Calgary, will acquire the 20% interest it doesn’t own in the Blackrod steam-assisted gravity drainage project in Alberta’s Athabasca area for $21 million from an undisclosed seller.
The company intends to start construction of an SAGD pilot at Blackrod later this year. The deposit would be developed with horizontal well pairs.
BlackPearl represents that project potential is 20,000-40,000 b/d of 9° gravity oil in the Lower Grand Rapids formation with 18-26 m of pay with 65-75% oil saturation at 300 m.
