Athabasca Oil Corp. said it has formed a joint venture (JV) valued at C$475 million (US$338 million) with a subsidiary of Murphy Oil Corp. to develop light oil targets in the Duvernay and Montney shales, in the Kaybob and Placid areas of Alberta.
Athabasca
Articles from Athabasca
Athabasca Oil Sands Project Output Hits 255,000 Barrels Daily
Royal Dutch Shell plc, which operates the Athabasca Oil Sands Project (AOSP), said late Monday its oilsands operations have achieved a production milestone of 500 million bbl since production began in 2003. Current production capacity has reached 255,000 b/d, Shell said.
Alberta Regulators Set Gas Shut-Ins at 123 MMcf/d for Bitumen Preservation
A total of about 123 MMcf/d of natural gas production from the Wabiskaw-McMurray formation in the Athabasca Oil Sands Area of northeastern Alberta will be shut in on July 1 by order of the Alberta Energy and Utilities Board (AEUB). The shut-ins are designed to preserve 25.5 billion barrels of potentially recoverable crude bitumen, representing about 14.6% of Alberta’s remaining bitumen reserves.