Who owns Grizzly oil sands?
Grizzly is controlled by two shareholders, Wexford Capital LP and Gulfport Energy Corporation.
Where are the three major oil sands regions in Alberta?
Canada’s oil sands are found in three regions within Alberta and Saskatchewan: Athabasca, Cold Lake and Peace River, which combined cover an area more than 142,000 square kilometres (km2).
Why does Fort McMurray have so much oil?
Great Canadian Oil Sands As a result of the easy accessibility, the world’s first oil-sands mine was in the Athabasca oil sands. Commercial production of oil from the Athabasca oil sands began in 1967, with the opening of the Great Canadian Oil Sands (GCOS) plant in Fort McMurray.
Where are Alberta’s oil sands?
Canada’s oil sands are located almost exclusively in northern Alberta in three deposits that lie in the McMurray Formation, a layer of shale, sandstone and oil sand, formed during the Cretaceous period. the Athabasca region, some of the oil sands are near enough to the surface that they can be surface mined.
Who owns the oil in Alberta?
The American energy giant Exxon Mobil Corp holds a majority stake in Canada’s Imperial Oil, which has been operating in the sector for more than 130 years. Imperial Oil owns a 25 per cent stake in Syncrude, among the largest crude-oil producers in Alberta’s oilsands, as well as in other oilsands projects.
Does Texas have more oil than Alberta?
One-third of the United States’ total crude oil and natural gas reserves are in Texas. Similar to Alberta, Texas has diverse geology, with oil and gas found at different depths and in different areas across the state.
What is Grizzly oil sands ULC?
Grizzly Oil Sands Grizzly Oil Sands ULC is a full-cycle in situ oil sands project developer that is advancing the SAGD recovery model through facility design innovation and phased development centred on Grizzly’s unique ARMS concept.
Could new Grizzly oil sands project breathe new life into another project?
Photo by Vincent McDermott/Fort McMurray Today/Postmedia Network files Alberta approved a new project by Grizzly Oil Sands ULC on Thursday that could breathe new life into a company that suspended production on another project in the province because of low oil prices.
What’s going on in Alberta’s oilsands?
A heavy hauler truck used in the oilsands near Fort McMurray, Alberta. Photo by Vincent McDermott/Fort McMurray Today/Postmedia Network files Alberta approved a new project by Grizzly Oil Sands ULC on Thursday that could breathe new life into a company that suspended production on another project in the province because of low oil prices.
Why invest in the Grizzly oil sands?
Grizzly intends to grow in manageable increments to production of up to 150,000 barrels per day within 10 years and maintain additional growth potential thereafter. Grizzly has assembled a portfolio of oilsands leases in excess of 800,000 acres in the Athabasca, Peace River and Cold Lake regions.