Thursday, June 21, 2012

Canadian Oil Sands Update -- Nothing To Do With the Bakken

Alberta Oil Sands

Alberta's oil sands hold 1.8 trillion barrels of bitumen, but only about 9% is recoverable using existing technologies. April 19, 2013. [That makes it easy: about twice the reserves of the Bakken, and about twice the rate of recovery.]

Industry fact sheet on Canadian oil sands

See also Kearl Oil Sands

Updates

Canadian heavy oil discounts will weigh heavily on 1Q13 earnings.

This story was published June 21, 2012, when WTI dropped below $80.
Alberta's Energy Resources Conservation Board said on Wednesday it expects output from the province's oil sands to more than double by 2021, while conventional oil production last year rose for the first time in 16 years.

The board, which regulates the province's oil and gas industry, said it expects oil sands production of 3.7 million barrels per day in nine years, 2 million bpd higher than the output in 2011.

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