PBG V PBN & THAI Petrobank was in 2 JV arrangements on pilots involving the THAI (also known as a "fire flood" )I believe. both JV partners (Shell & Bonavista or baytex) I always get those two confused)) anyway PBG was asked to buy out the JV partners on both deals and they did (about 2 yeasrs ago) Whether the results of the THAI were underwhelming OR the JV partners acquired the the technical information they were after so they could depoly the THAI process once the intellectual property (Patents) expired. is anyone's guess. BUT PBG was left to prove up the technology on their own dime... Ultimately it's the patche's habit of allowing patented technologies to become public domain before adopting it... SAGD was such a technology back in the 80's Imperial oil had a little project in Cold lake... where they pioneered SAGD... BUT it didn't take off as a mainstream technology until everyone on the street coudl adapt it to their needs... SO if THAI does work.. I would guess it will be another 10-15 years before it gains broad acceptance... if NOT longer given the recent boom in "tight shale oil" and the Bitumen "discount" (bubble)... it's about economics... It is also about reservoir characteristics... what might work well in one area might not work so well in another... and as anyone will tell you as far as SAGD goes... it can be hit or miss on the oil/steam ratio...
There are no magic bullets that will create that "boom" even Shale wells have their issues with cost... a company can dig a SAGD well pair for a couple million... BUT to get 30-40 K BOE/d a company will still need to spend North of a Billion dollars... as for Shale from the Bakken... a Norht Dakota well will hit IP (initial production) somewhere near a thousand BOE/d (for about 8-10 million drilling and completion costs) then drip down to less than 100 BOE/d within a year or two... so.. the cost of getting to the 35-40 K BOE/d is just about the same... and payout .period is just about the same... the differecne between the two is pretty much just the foot print... a SAGD central steam plant is a BIG expense.. and creates a BIG footprint in the middle of the forest...
anyway... i hope I have added something to those that have "stumbled across the THAI process... it's far from new...and far from commerciality...
Goodl luck... any opinions expressed are mine git yer own and do your own DD.