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Bullboard - Stock Discussion Forum Baytex Energy Corp T.BTE

Alternate Symbol(s):  BTE

Baytex Energy Corp. is a Canada-based energy company. The Company is engaged in the acquisition, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and in the Eagle Ford in the United States. Its crude oil and natural gas operations are organized into three main operating areas: Light Oil USA (Eagle Ford), Light Oil Canada (Pembina Duvernay... see more

TSX:BTE - Post Discussion

Baytex Energy Corp > Suncor’s Firebag oil sands project shut due to wildfire risk
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Post by ztransforms173 on Jul 04, 2024 2:30pm

Suncor’s Firebag oil sands project shut due to wildfire risk

Suncor’s Firebag oil sands project shut due to wildfire risk, Alberta minister says

 

    
 


Suncor Energy has shut down its 215,000 barrel-per-day (bpd) Firebag oil sands project in northern Alberta as a precaution due to a wildfire burning about eight kilometres away, an Alberta government minister said in a social media post on Thursday.

 

Suncor, Canada’s second-largest oil producer, did not immediately respond to a request for comment.

Alberta’s Minister of Forestry and Parks Todd Loewen said Firebag had been shut down on Wednesday night out of an abundance of caution.

There are more than 60 fires burning across Alberta and officials have rated the fire danger in the north of the province as very high to extreme, he added.

Weather forecasts show an extended period of hot weather will settle over western Canada in the coming days, with temperatures expected to exceed 30C (86F) by next week.

Canada is the world’s fourth-largest oil producer and more than two-thirds of its 5 million bpd of crude comes from Alberta’s oil sands.

(Reporting by Nia Williams in British Columbia, editing by Deepa Babington)

https://boereport.com/2024/07/04/suncors-firebag-oil-sands-project-shut-due-to-wildfire-risk-alberta-minister-says/

***

SAGD production facilities like FIREBAG are VERY TRICKY TO SHUT DOWN and RESTART WITHOUT LOSING SUBSTANTIAL RESERVOIR PRESSURE

- therefore, you CAN'T STOP PRODUCTION and RESTART and EXPECT to GET the SAME BITUMEN PRODUCTION RIGHT AWAY

you will have to INJECT STEAM to BUILD UP the RESERVOIR PRESSURE to SCALE UP PRODUCTION over MANY DAYS and WEEKS and EVEN MONTHS IF the reservoir pressure DROPS LOW ENOUGH

so, IT ALL DEPENDS on HOW LONG the STEAMING STOPPED

z173
Comment by ztransforms173 on Jul 04, 2024 2:35pm
- 'COULD' PUSH UP SCO and WCS prices IF the SHUTDOWN LASTS FOR MORE than A FEW DAYS - 215,000 bbls/d is a LOT of BITUMEN (HEAVY CRUDE OIL) z173
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