Our focus is to thermally develop identified, high-return heavy oil projects primarily in Saskatchewan. Future growth opportunities will be developed with our available equity line and internally-generated free cash flow. Our projects are conveniently situated in close proximity to both Lloydminster and North Battleford.
The heavy oil in this region is of high quality, with up to 22m net pay, 10 – 12 degree API and as such responds well to thermal recovery processes (compared to the more viscous 8 degree API bitumen in the Alberta oil sands).
The Serafina Edam facility is in operation and has exceeded nameplate production capacity of 6,000 barrels per day. This facility uses proven SAGD technology to recover remaining reserves from existing heavy oil pools that have come to the end of their primary production ability.
Our second 6,000 barrel per day facility in Meota, SK is currently under construction. The initial recovery of the resource will begin in early 2018.
Future projects within our core areas are currently in various stages of development.