Syncrude – a joint venture of oil and gas companies mining the Athabasca oil sands – holds eight leases covering 258,000ha, 40km north of Fort McMurray. Learn more about how water is used in the Alberta oil sands and what's being done to reduce fresh water consumption rates. Environmental Law Group Seeks To Stop Inquiry Into Who Funds Oil Critics. Companies. That portion of land is located on the riverbank of the Athabasca River. Resources. Located around Fort McMurray in the north of Alberta, Canada, the Athabasca Oil Sands – named after the river that cuts through the heart of the deposit – is the largest of province’s three oil sands resources. For example, the Oil Sands Community Alliance (OSCA) was formed in 2013 to pursue innovative solutions and build thriving communities and enable responsible growth of Canada’s oil sands. About 10% of the Athabasca oil sands are covered by less than 75 metres (246 ft) of overburden. There are a number of companies involved in exploiting the deposit, though three major operations dominate the field. Exxon Says 20% of Oil, Gas Reserves Threatened by Low Prices. The company organizes its business under two operational segments, Light Oil and Thermal Oil. Oil sands operators announce more cuts and withdraw full-year guidance, as pandemic drags on. The Athabasca oil sands first came to the attention of European fur traders in 1719 when Wa-pa-su, ... (SAGD) projects and away from mining and upgrading projects, as oil sands operators foresee better opportunities from selling bitumen and heavy oil directly to refineries than from upgrading it to synthetic crude oil. Apr 29, 2020 . In sum, while oil sands companies have created industry best practices such as “Life-Saving Rules” (ESC 2019) and have hazard identification tools such as Field Level Hazard Assessments, ground hazards remain unidentified and inci- dents such as this still occur. Shell is the operator and 60 per cent owner of the Athabasca Oil Sand Project (AOSP), a joint venture between Shell, Chevron Canada Corporation (20 per cent) and Marathon Oil Sands LP (20 per cent). The Alberta oil sands are allocated a total of 8% of total Athabasca River water flow. The Athabasca River Water Management Framework ensures that annual withdrawals by oil sands companies never exceed 3 percent of Athabasca River flow. Alberta's oil sands lie beneath 142,200 km² of land in the following areas of Northern Alberta: Athabasca; Cold Lake; Peace River; Reserves up to 75 metres deep are shallow enough to mine and found only within the Athabasca oil sands area. Shell announced today 10 years of oil sands production as operator of the Athabasca Oil Sands Project (AOSP). Search 39 Athabasca Oil Sands jobs now available on Indeed.com, the world's largest job site. Tags oil sands upgraders. Shell will remain as operator of AOSP’s Scotford upgrader and Quest carbon capture and storage (CCS) project. Separate maps are included for each of the Athabasca, Cold Lake, and Peace River regions. Shell Canada, operator of the Athabasca Oil Sands Project, has spent over C$1.7 billion in business with about 70 Indigenous-owned businesses and contractors since 2005. Similarly, the Petroleum Services Association of Canada (PSAC) has developed a Community Partners program that sets out guiding principles to address local concerns related to oil and natural gas … They still have a large debt position, but have liquid assets to offset it, so are pretty close to being debt free. Presents the locations of oil sands projects and upgraders in the province and indicates their current status (operating, construction, approved, application, or announced). Although not officially a city, Fort McMurray is well known for its prominent role in the development of the national petroleum industry. Canadian companies appear to be doubling down in the oil sands as foreign multinationals pull away, Brunnen says. July 28, 2020, 8:51 AM MDT. The AOSP consists of the Muskeg River and Jackpine mines, the Scotford Upgrader and the Quest Carbon Capture and Storage (CCS) project (Quest). Fort McMurray, a small town in the heart of t In 2009, five oil sands companies operating in the northern Athabasca oil sands area founded the OSVC and started to harvest and bank seeds from plants that are considered important for establishing ecological diversity on reclaimed lands. Athabasca Oil Corporation is a differentiated Canadian energy company focused on sustainable resource development of thermal and light oil assets. Apr 2, 2020. September 1, 2017. Although initially these workers were used to support temporary activities (construction and maintenance), they have been increasingly used in longer-term operational activities, as industry’s labour needs increase and development extends away from the service centres. Serving the Athabasca Oil Sands and beyond, we focus on building good relationships with our clients, who have included a great many oil companies, and we have the capacity to support a project from start to finish. These are big growing assets. However, oil sands producers are high cost producers, so if oil prices were to stay at $30, they would have a lot of problems. Thermal Oil includes the exploration, development, and production of bitumen from sand … It is ranked as the world’s largest producer of synthetic crude from oil sands and the biggest single source in Canada. It generates maximum revenue from the Thermal Oil segment. Deutsche Bank Says It Won't Back Any New Oilsands Or Coal Projects. Updated. We offer investors excellent exposure to oil prices and are focused on maximizing profitability through prudent capital activity across a diversified asset base. Athabasca calls itself the largest leaseholder in the Athabasca region of the oil sands, with 526,000 hectares of net land. Athabasca Oil Corp. is suspending operations at its Hangingstone SAGD oilsands operation due to the drop in oil prices and the COVID-19 pandemic. Athabasca Oil Corp is an energy company. Athabasca’s Hangingstone Project is an oil sands steam-assisted gravity drainage (SAGD) operation near Fort McMurray, with an operating break-even price of about $37.50 a barrel for Western Canadian Select, according to the company’s statement. Together, the companies … Six oil sands mining companies operating in the Northern Athabasca Oil Sands area agreed to participate in coordinated seed harvesting and banking, and the OSVC was born. August 6, 2020, 7:55 AM MDT. Also, Athabasca sold off some of their oil sands assets giving them $700 million in paper. The first known reference to the Athabasca oil sands is made by Captain Swan. Athabasca Oil Corp. says it plans to spend $75 million next year, versus $85 million in 2020, with $70 million of that focused on drilling wells to sustain production at its Leismer oilsands project, which employs steam to produce bitumen. The Athabasca deposit is the largest known reservoir of crude bitumen in the world and the largest of three major oil sands deposits in Alberta, along with the nearby Peace River and Cold Lake deposits (the latter stretching into Saskatchewan). Watch List Unlock Premium Opinions Top Picks Company Expert Watch List. The Alberta government allocates only 3% of the Athabasca River's total flow to oil sands mining operators, and water supply can be reduced to zero in winter months. The Athabasca oil sands (or tar sands) are large deposits of bitumen or extremely heavy crude oil, located in northeastern Alberta, Canada – roughly centred on the boomtown of Fort McMurray. Fort McMurray is an urban centre in Alberta’s Wood Buffalo municipality, located in the middle of the Athabasca oil sands and surrounded by Canada’s boreal forest. The importance of Canada’s oil sands. Athabasca initiates shutdown at Hangingstone, and trims corporate head count. Athabasca Oil Sands Corp ATH-T. Overview About Advanced Chart Technicals. Athabasca Oil Sands Area (AOSA) due to industry’s major expansion in the early to mid-2000s. This is having a sharp impact on the financial performance of Canada’s oil sands operators. State of the union in oil markets: Oil prices stabilize as demand appears to have turned a corner. In practice, annual withdrawals are often less than 1 percent. Regulations also control instantaneous flows, based on the given flow in the river, as river flow changes considerably from season to season. Introduction The Athabasca oil sands of the McMurray formation in northeastern Alberta cover an area of about 21,000 sq miles and contain the world's largest reserve of economically recoverable oil. Contact Information. Apr 29, 2020. These transactions were completed on May 31, 2017. Apr 2, 2020. But while there is an economic shift, he believes there is continued financial inter est in oil sands investments. Footnote 5; Since 2009, Cenovus has spent more than C$1.5 billion on goods and services supplied by Indigenous businesses, including nearly C$384 million in 2014 alone. Discover. As Rob Vassov describes “This homegrown initiative was built out of need, supported and driven by professionals willing to collaborate in the field and share the common challenges facing them.” May 7, 2020. On March 9, 2017, Shell announced it would sell all of its in-situ and undeveloped oil sands interests in Canada and reduce its share in the Athabasca Oil Sands Project (AOSP) from 60% to 10%. More at Wikipedia ATH-CT Fundamental Data by … TSE:ATH 0.17 0.01 (5.71%) Athabasca Oil Corporation is a Canadian energy company with a focused strategy on the development of thermal and light oil assets. Athabasca expects 2021 production of between 31,000 and 33,000 barrels of oil equivalent per day (10 per cent natural gas), similar to its 2020 average output of about 32,250 boe/d. Job: Oil sands worker Salary: It's the money that makes this work so attractive.Salaries range from about $90,000 to $120,000 a year, not including overtime, says … They are located on a small 3% of the Athabasca oil sands area 1. July 28, 2020, 9:19 AM MDT Apr 29, 2020. About 4,800 km² of surface mineable area make up roughly 3.4% of all Alberta oil sands. The 120-odd active oil sands projects are owned by major oil companies from Canada and around the world, including the U.S. and China. These oil sands, hosted primarily in the McMurray Formation, consist of a mixture of crude bitumen (a semi-solid rock-like form of crude oil), silica sand, clay minerals, and water. Canadian Natural Resources Limited 2100, 855 - 2 Street SW Calgary, Alberta, Canada T2P 4J8 Phone: 403.517.6700 Fax: 403.517.7350 Apr 2, 2020. Calls have been mounting for Canadian producers to cut production in light of rock-bottom domestic oil prices and a lack of demand. He was a Cree chief acting as a middleman between the native hunters of the west and the fur factories of Hudson Bay. Athabasca Oil Sands Project from Shell and Marathon and Statoil’s sale of in situ assets to Athabasca Oil, valued up to $832 million. It is focused on the exploration, development, and production of light oil and liquids-rich natural gas. 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