Grizzly – May River Bitumen SAGD Facility – Alberta - Project Profile
"Grizzly – May River Bitumen SAGD Facility – Alberta - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Grizzly Oil Sands ULC (Grizzly) is planning to undertake the construction of an SAGD facility in Alberta, Canada.
The project involves the construction of an SAGD to extract Bitumen with gross production of 100,000 barrels per day (BPD) on an 18,250ha of land acquired from Petrobank May River property.
The project includes the construction of a control room, water management facilities, maintenance buildings, and the installation of air injection compressors and steam generators.
The project will be developed in phases.
Grizzly will use modular SAGD technology for the project.
On January 31, 2012, Grizzly entered into an agreement with Petrobank Energy and Resources Ltd. to purchase its May River property, which includes 18,250ha of high-quality oil sands leases, for gross cash proceeds of US$225 million subject to normal closing adjustments.
On February 28, 2012, Grizzly announced that it closed the acquisition of the May River property from Petrobank Energy and Resources Ltd, for gross cash proceeds of US$225 million.
On March 1, 2012, GLJ Petroleum Consultants Ltd (GLJ) was appointed as a consultant to provide an independent assessment of the project.
Financing for the project will be provided by Grizzly's existing shareholders invest funds managed by Wexford Capital LP and Gulf Energy Corporation (GPOR).
Acoustical Consultants Inc. has been appointed as environmental consultant to conduct an environmental noise impact assessment (NIA).
The project is waiting for regulatory approval.
The project involves the construction of an SAGD facility to extract Bitumen with gross production of 100,000BPD on 18,250.9ha of land in Wood Buffalo, Alberta, Canada.
The US$3,000 million project includes the following:
1. Construction of a control room
2. Construction of a warehouse and maintenance buildings
3. Installation of air injection compressors
4. Installation of steam generators
5. Construction of water management facilitiesReasons To Buy