portfolio of proven
and developing plays.
ORION: the path to
20,000 barrels per day.
- Currently producing approximately 9,000 barrels per day.
- Positive cash flow at a lower oil price than many other oil sands projects.
- Phase 2BC expansion is underway (first steam in Q3 2018) resulting in a doubling of production by the end of 2019.
- Phased brownfield expansion enables growth with lower risk and lower capital intensity.
- A subsequent phase will bring Orion to approved production capacity of 20,000 barrels per day.
Taiga: same netback
reservoir as Orion.
- Regulatory approval for 35,000 barrels per day project in hand.
- Located just 18 kilometers from the Orion project.
- Same netback pricing advantages, same reservoir, and same nearby community as Orion.
- Osum has an extensive understanding of Taiga geology.
- Together, Orion and Taiga represent production potential in excess of 55,000 barrels per day.
- Osum is one of the largest resource holders in the carbonates.
- Holdings represent an ultimate production potential in excess of 465,000 barrels per day.
- Saleski Pilot is complete; successfully demonstrating the potential for thermal bitumen recovery from the Grosmont formation.
- Knowledge and experience gained through the pilot positions Osum for future growth.
- Commercial demonstration options will be progressed when prudent.