RE:CC: Fort Hills SENDING 14,000 bbls/d Bitumen To BPUztransforms173 wrote: BPU: Base Plant Upgrader
- Firebag operating at an IMPRESSIVE 102% BOP rated capacity
Our in situ assets also saw continued strong production, including 102% utilization at Firebag. Meanwhile, the Fort Hills asset was on plan with production ramping up quarter-over-quarter to 110,000 barrels a day net, including 14,000 barrels a day of internal transfers to base plant upgrading.
- keeps the analysts GUESSING on what is the TRUE PLAYBOOK about acquiring the TotalEnergies interest in Fort Hills AT AN ADVANTAGEOUS PRICE POINT Greg Pardy
Okay. Thanks for that. And then, maybe just completely shifting gears, there’s a reference in the release, obviously, to acquiring the balance of Fort Hills. I’m just interested in what your thoughts are there generally, how you think about it strategically? And then, whether there’s any possibility of getting a deal done this year? And I’m not asking you to negotiate publicly here. I’m just curious as to whether that is something that could be sooner than later or whether it’s just going to take some time.
Rich Kruger
Yes. Greg, this is Rich. I think a couple of things I’d say is the long-term bitumen supply to the upgraders remains focus area for us, and between a combination of the ability to move Firebag volumes there and/or Fort Hills and/or incremental Fort Hills. As we look at it, we generally would prefer to operate and have 100% ownership of our assets. That’s generally where we think we can add the most value and be the most competitive. And so, Fort Hills would fit into that. The -- with ConocoPhillips exercising their ROFR, the deal has originally announced and configured, changed. And we acknowledge that. Total acknowledges that. Discussions are still going, and I appreciate you not asking me to speculate where we’ll end up, but discussions are going, continuing. The strategic value to us and I would say Total is -- largely remains the same. So we just -- we’ll work through that. And when we -- if and when the time is right, we have something to announce, we’ll do that. I think that -- but expecting a resolution on all that this year, that’s a reasonable expectation.
- so my SPECULATION was CORRECT, Firebag is CERTAINLY a STRONG CONTENDER to INCREASE VOLUMES to the Base Plant Upgrader in the future
z173
just read this now
i guess that answered your question why SU isn't expanding firebag, it's already at nameplate capacity. New expansion would require major $$ at firebag, and likely more red tape and delay from regulator on expanding beyond existing approved condition.