Lloydminster Heavy OilSouthwest SK Core Asset Description:
Strathcona’s ultra-low decline enhanced oil recovery (EOR) assets combined with our Saskatchewan thermal oil properties and development opportunities represent decades of low-risk, high-margin production.
The Lloydminster Heavy Oil segment has 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.
Strathcona’s Saskatchewan thermal properties rely on the same steam-assisted gravity drainage (SAGD) processes as our Cold Lake Thermal 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.
Cold Lake ThermalEast-central AB Core Asset Description:
Strathcona 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 GasNorthwest, AB and northeast BC Core Asset Description:
The Montney is a world class unconventional resource play developed using advanced technology that combines long reach horizontal wells with water-based fracture stimulation.
Strathcona’s Montney development is positioned in some of the most active regions in the Montney basin – the condensate-rich Kakwa, Grande Prairie, and Groundbirch regions – and produces liquids-rich gas (45% liquids).
Strathcona’s liquids-rich Montney development generates compelling economics and provides revenue diversification along with a natural hedge against input costs for our Cold Lake Thermal and Lloydminster Heavy Oil divisions.