Request vet of my notesSome buddies requesting my notes. I've delayed because I think I'm missing or incorrect with it.
Wondering if anyone here can help vet my notes. Thanks in advance.
Achievements or Updates
1/20 scale already done 2017
Former involvement with Prosper Rigel's SAGD now terminated
New agreement with Broadview's oilsand's property called Marwayne
Patents and pending patents
Cited strengths
Founders University professors (haha, this could be negative); very talented staff, much Collaboration with reseach entities
Collaborated with GE to design and supply RF control units
Current potential benefits over SAGD:
Replaces / eliminates fresh water usage, SAGD steam generation and injection, water recycle repurposing
Electrification through RF XL could Result in Zero-GHG Emissions for Oil Sands and Heavy Oil Producers
Source of electrification is Alberta A/C grid, AC/DC Solar/Wind/Hydro/Diesel (LNG, small nuc) or combination
Multiple options for source fuel (but this project will not look at these at this go round)
Can resell surplus renewables power into the Alta grid
25% emmissions reduction with Alberta grid, ( via guarenteed 50% future reduction builtin)
White paper very good for discussion, (ie missing small Nuclear, LNG source methane fuel), but need to read carefully to see what's included in the commerical scale pilot else confusion on my part
Potential to buy low demand/cost electricity from Alta grid night time reservoir heating, and sell all or surplus portion of renewables into the Alta grid
Site has smaller facilities footprint over brown field SAGD
Potential to lower input carbon tax ; unclear yet on emissions credits ?
Potential sales to foreign competitors in Middle East, California cited, (not cited heavy oils in Colombia, Venz)
Potential implementation on Oilsands land that’s fit for SAGD, certain heavy oil like Cold Lake (Alta/Sask)
Potential to insert or retrofit into existing SAGD operations
Potential implementation on thiner reservoirs
Commerical pilot project has >$10mm in multi government, $2mm Suncor, $2mm unknown sands
Weakness
High Capital cost on any standalone / or onsite located renewable facility/turbine/generation plant; some sands op may need debt
Some sands acreage do not have Alta grid access, expensive transmission lines
Potential to keep conservative $$ players from owning stock due to AB courts and Rigel sands project
What was not mention is if Solar was source fuel, then on site solar would larger footprint
Marwayne Commercial scale project
Regulatory approvals in hand
Good location ie easy year round highway access (lsd 2 se18 twp 53 range 1 west4)
PanCanadian cores
Fully funded about $18mm commerical scale pilot to verify claims
Appears to be Alta grid only fuel source, no renewables (Solar)
Assuming 1 pad, 6 to 8 wells for 5000 bpd target production
How much power 2 or 4 MWh/well? , Heating how many hrs per day??
Risks
Perhaps poor placement of injector or harvesting wells; no diff than with SAGD operator
Similar SAGD problems (ie sand plugging perfs in harvesting well)
Timeliness
Funded, partnered, and permited
Jan 2021 beings construction of commercial scale of their 10 years young RF heating technology
Results in maybe 9 months
My Biggest Project Benefit takeway
No freshwater injection nor water purifying/recycling needed
2 major sands players contributing $2mm each for front row seats
25% emissions reduction via Alberta grid now, ( via grid guarenteed 50% 2030 reduction builtin)
Finally seeing light at the end or front of the vetting tunnel