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Southern Pacific Resource Corp STPJF

Energy Oil & Gas E&P
Southern Pacific Resource Corp. is a Canada-based company, which is engaged in the thermal production of heavy oil in Senlac, Saskatchewan on a property known as STP-Senlac, and thermal production of bitumen on a property located in the Athabasca region of Alberta known as STP-McKay, as well as exploration for and development of in-situ oil sands in the Athabasca region of Alberta. Its STP-McKay property consists of oil sands leases totaling approximately 37,760 acres. The Company’s operations also include Anzac, Hangingstone and Ells. The Company’s STP-McKay property is located approximately 45 kilometers northwest Ft. McMurray. The Anzac project covers approximately 117 kilometers of two-dimensional (2D) seismic. The Company owns 80% interest in Hangingstone project. The Ells project covers approximately 164 kilometers of two-dimensional (2D) seismic.


GREY:STPJF - Post by User

Southern Pacific Resource Corp
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Comment by strzelinon Jan 24, 2013 2:07pm
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Post# 20885717

RE: STP's price

RE: STP's price

STP hopes to sell their Dil-bit in Louisiana at Castilla Blend Benchmark Prices. Last time I checked (Jan 13) Castilla Blend was quoted at ~$98/bbl. STP transportation system (Trucking - Rail - Barge) cost is going to be high and was quoted at $31/bbl. If all goes as they hope for, STP may get about $65/bbl for their Dilbit (after transport) or ~ $45 to $50/bbl for their Bitumen at the wellhead. Royalties, operational cost, G&A, Interest expenses and high (SAGD) maintenance CAPEX will determine final Corporate netbacks

From my experience you have to wait for Q1 results to see actual Realized Prices for STP bitumen.  Castilla Blend is a Dil-Bit at about 18 Deg API. I am not sure if STP Dil-Bit will have such a high API to get Castillia prices. Alberta's Dil-Bit sold at Hardisty is about 12 Deg API and priced at ~$45/bbl.

 
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