Another Q End of another Quarter.
External positives:
Combing through Public Q1 records measuring Oilsand insitu producers (i.e.showing their efficiencies like SOR measure, I've only seen two facilities with trending better SOR. Meg's Christina Lake and CNOOC's Long Lake sagd. The few others I've checked are trending flat, and there are many showing trend worsening SOR. I'll an post examples later.
Why/what is then positive ? With trending flat or worsening SOR, this continues to show a huge market for RFXL as a solution. The industry need solution and improvements.
SOR is the ratio of volume of cold water needed (units in barrels; to be heated to stream state) and volume of Bitumen produced.
Current state of oilsands industry research to improve SAGD:
Even with the huge amount of effort (researchers, faciliites, man hours), time (many years now), money (big$$$) directed to Solvent injection with steam, oilsands insitu producers in general are not showing any gains with their facilities in terms of (for instance) SOR. Nada
I question Why doesn't AXE reveal what their Marwayne SOR numbers are? When RFXL is adopted by the industry, my guess is they will still be reporting SOR (along with other metrics) anyways to regulators. Which then become public.
I await the Q2 producer numbers.