Many new in‐situ oil sands projects are capable of competing favourably with other North American tight oil plays. Such was the announcement made by Glen Scmidt, president and chief executive officer of Laricina Energy at a recent Peters & Co investment conference held in Toronto. While acknowledging that start‐up of these projects is less efficient than Greenfield and Brownfield expansions, Scmidt noted that, “gains are realized and compounded once the commercialized projects are established.” and further, “Innovations such as solvent [and] infill wells are leading to further reductions in supply costs below that of the base‐case steam recovery. As an industry, we are seeing lower [steam‐oil‐ratios], faster start‐ups and techniques and expansions built on these operations”. A recent Peters & Co study comparing and contrasting a 30,000 bpd development in the Eagle Ford, and a 30,000 bpd in‐situ oil sands development, supported these assertions, with findings of a “competitive” result with an in‐situ steam‐oil‐ratio of 3.5 and “excellent” comparatives with a steam‐oil‐ratio of 2.5.