3 Billion barrels at Grosmont for OSUM
It is a largely overlooked resource with potential to transform the oil industry: bitumen in carbonate rocks. A massive bitumen-filled carbonate deposit can be found in the Alberta Energy Corridor’s backyard. According to the Alberta Energy Resource Conservation Board, the province’s carbonate bitumen resources stand at 536 billion barrels, of which more than 400 billion barrels are found in the Grosmont Formation. This enormous bitumen resource has led to a number of companies initiating exploration and projects in the region.