After distributing Petrobank's heavy oil business to New Petrobank (a new company), PetroBank and PetroBakken will combine and operate under the name PetroBakken Energy. PetroBakken operations include light-oil Bakken (Saskatchewan) and Cardium (Alberta) plays and conventional light oils in Saskatchewan.
New Petrobank will focus on heavy oil and heavy-oil-related techology.
Bottom line:
- PetroBakken Energy: Canadian Bakken light oil.
- New Petrobank: Canadian heavy oil.
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