• Imperial Oil is forging ahead with its proposed Kearl oil sands mining project. $500 million has been spent on Kearl with contracts having been awarded for engineering, procurement and construction management services. Phase 1 of the Kearl surface mining operation northeast of Fort McMurray added a total of 800 million boe to proved reserves for Imperial Oil in 2008. 
  • TransCanada is continuing to progress its Keystone pipeline to transport bitumen from the oil sands to the Gulf Coast. It has completed approximately 40% of the engineering, procurement and construction activities for the initial phase. TransCanada has also been receiving additional requests for service on the Keystone pipeline due to the delay of upgrader projects in Alberta. Shippers have been requesting that TransCanada stick with its schedule on Keystone and not delay the project, emphasizing that they have volumes they want to ship.
  • UTS announced it has identified two new potential oil sands projects, Equinox and Frontier, after completing a three-year drilling program. The projects would include development of 7 leases about 100 kilometres north of Fort McMurray. UTS has a 50% working interest in these projects, with Teck Cominco holding the other 50%.