• Devon Energy reported its Jackfish steam assisted gravity drainage oilsands project averaged 28,000 bpd of bitumen in June, representing an increase of 14,500 bpd over June 2008. Growing production from the project raised the company’s total production in Canada for the quarter by almost 12,000 boe.
  • North American Energy Partners stated the long-term outlook for investment in the Canadian oilsands is improving as a result of stronger prices and lower costs. The company is, however, maintaining cautious expectations for the second quarter, due to past project deferrals and postponements.
  • PetroChina International Investment Company, a wholly-owned subsidiary of PetroChina Company, announced it has entered into an agreement with Athabasca Oil Sands to acquire a 60% working interest in Athabasca’s MacKay River and Dover oilsands projects for $1.9 billion. Athabasca expects to file an application with the Energy Resources Conservation Board for the first phase of the MacKay River project by the end of 2009. Together the MacKay and Dover projects are estimated to contain five billion bbls of best case contingent bitumen.
  • Alberta Oilsands announced it is expecting to submit an application to the Energy Resources Conservation Board for the first phase of a 2,000 bpd of bitumen pilot project. Testing over two seasons, along with an independent resource assessment, suggest the Clearwater West area has a large quantity of bitumen in a high quality reservoir.
  • Alberta Environment has given Osum Oil Sands its final terms of reference for an environmental impact assessment on the company’s proposed Taiga oilsands project. The project will be located near Cold Lake and is set to produce a proposed 35,000 bpd of bitumen. Osum plans to begin construction in the third quarter of 2011, pending regulatory approval. Start-up is expected to take place in the second quarter of 2013.
  • Bitumen production in the second quarter of 2009 from Alberta’s oilsands mines increased by more than 100,000 bpd from the second quarter of 2008. This increase is due to the ramping up of Canadian Natural Resources Limited’s Horizon mine, and production from Suncor Energy reaching 327,950 bpd of mined bitumen during the quarter.
  • BlackPearl Resources is continuing to work on its application for regulatory approval to construct and operate a steam assisted gravity drainage pilot project in the Athabasca oilsands. The company would like to have construction completed by the first quarter of 2011. A 31 kilometre permanent road to the worksite is required, construction of which is scheduled to begin in September.