Operations
Lloydminster
Southwest SKStrathcona’s Lloydminster business is a combination of high growth thermal oil properties and low-decline enhanced oil recovery assets. Strathcona’s Lloydminster thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as our Cold Lake properties. Given the unique nature of the geology in Saskatchewan, our Saskatchewan-based thermal operations are designed as small, modular facilities, creating opportunities for staged, low-cost growth without the need for major infrastructure further minimizing surface impact.
Strathcona’s Lloydminster conventional assets are characterized by multiple large oil-in-place reservoirs with existing and expanding enhanced oil recovery (EOR) opportunities primarily located in southwest Saskatchewan. EOR extraction requires injecting fluids into a hydrocarbon reservoir to tailor pressure, displace hydrocarbons to production wells, or alter reservoir fluids to improve hydrocarbon flow.
Cold Lake
East-central ABStrathcona is a major producer in the Cold Lake region of Alberta. Our operations include thermal oil producing assets at Lindbergh, Orion and Tucker, with production from best-in-class steam-assisted gravity drainage (SAGD) oil assets.
SAGD is a method that is widely used to extract bitumen from underground oil deposits. This method involves introducing steam into the subsurface oil sands deposit to heat the bitumen in the sand, allowing it to flow by gravity to horizontal wells placed at the base of the reservoir. Strathcona’s operations have minimal surface impacts as they do not use open pit mining techniques.
Montney
Northwest, AB and northeast BCThe Montney is a world class unconventional resource play developed using long reach horizontal wells with water-based fracture stimulation.
Strathcona’s Montney assets are positioned in some of the most active regions of the basin – the condensate-rich Kakwa and Grande Prairie areas, and the prolific dry-gas Groundbirch area.
Strathcona’s Montney assets provide both compelling standalone economics and a natural hedge against input costs for our Cold Lake and Lloydminster businesses.