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The Peace River oil sands located in northwest-central Alberta, Canada are the smallest of four large deposits of oil sands of the Western Canadian Sedimentary Basin formation. The development of new technologies and adaptation in older technologies have made the exploited of the Peace River oil deposits possible. The primary mehtods are in situ using steam-assisted gravity drainage(SAGD) and Cold Heavy Oil Production with Sand (CHOPS).
Baytex – Our Peace River area heavy oil operations include both cold primary and thermal cyclic steam stimulation (“CSS”) production. Since the beginning of 2000, we have accumulated 306 sections of oil sands leases and grown production from zero to a current rate of approximately 23,900 bbl/d in Q4/2013. During 2013, we drilled 41 cold horizontal production wells, 15 CSS wells for our second CSS module (“Pad 2”) and 24 stratigraphic test wells in the Peace River area. Through the fourth quarter of 2013, we have drilled 183 cold horizontal oil wells with a 100% success rate.
Shell Canada – announced its decision to proceed with its Carmon Creek project in Alberta, Canada, expected to produce up to 80,000 barrels of oil per day (bpd). Carmon Creek is a thermal in situ project that is 100 per cent Shell owned and will be part of the company’s broader production, refining and marketing business across the full value chain in North America.
Murphy Oil – At the Seal heavy oil project, we operate primary production from horizontal wells and are progressing Enhanced Oil Recovery (EOR) projects in the area with both polymer flooding and thermal recovery. Location: Northern Alberta, Basin: Western Canadian Sedimentary Basin, Working Interest: 100%, operated, Acreage: Over 316,000 net acres, First Production Date: 2003, Product: Heavy oil
Penn West – The Peace River Oil Partnership (PROP) with the Chinese state company , primary development the use of commercial cyclic steam project at Seal Main. Penn West is looking to sell its interest in the project.
Koch Exploration – Koch’s Peace River oil sands holdings are concentrated in a single area comprising about 800 square miles. Their lease-block in this area covers nearly a dozen townships. That’s a massive land position, by anyone’s standards.
TriOil Resources Ltd. – is a junior oil and natural gas Company in Western Canada with a highly motivated, proven management team.
CEC North Star Energy Ltd (“CEC”) – is a private Oil and Gas development company targeting oil opportunities in the Carbonate Triangle in Alberta, Canada. In 2011, strong advances in oil recovery technology made it clear that the enormous carbonate-hosted bitumen resources of Alberta are recognized on the world stage as economically viable and thus tremendous value. CEC North Star Energy was established in 2012 by a group of financial and technical experts in order to build a major Oil and Gas company targeting conventional oil sands opportunities in the Peace River Area, Canada.