portfolio of proven
and developing plays.
Orion: the path to
25,000 barrels per day
- Thermal oil sands project in the Cold Lake region of Alberta.
- Average production of 19,000+ BPD in Q2 2019, more than doubling production following the completion of the Phase 2BC expansion in Q3 2018.
- A subsequent expansion and other small capacity enhancing projects are expected to increase production up to 25,000 BPD.
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.