Osum Planning Small Expansions for Orion SAGD Asset

A private pure play oilsands operator in Cold Lake oilsands has developed a staged expansion plan that will enable growth of its SAGD project in small, marked steps to full capacity of 20,000 bbls a day over the next four years, says its chief executive.

The Orion expansion would be funded out of existing cash flow and capital, Steve Spence, president and CEO of Osum Oil Sands Corp., told the TD Securities Calgary Energy Conference.

“We’ve managed our cash very well through the downturn and that has put us in a great position to look at organic growth going forward,” he said.  Read full article.

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