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.

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Southern Pacific Resource Corp > Getting it Out

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Post by Awardedon Aug 02, 2013 11:51pm

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Post# 21647985

Getting it Out

The bitumen is there. The problem is getting it out.

I once had a disussion with a senior Encana manager who said that somehow they would figure how to get the birumen out of the ground. What concerns me about that statement is (1) how long it will take to figure it out, (2) how much extra will it cost and (3) what the delay will do to the NPV of the postponed cash flows.

Although everything above ground has been executed very well (essentially the Capex for the project has been on time and on budget), I wonder whether below ground execution has deficiencies.

For example, are the injector and collector well at ideal separations to achieve communication and delivery?

Does anyone have technical information of this issure?

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