Acceleware Ltd V.AXE

CVE Lloydminster Thermal makeup freshwater stats suck

[Whampoa]

I read many of the heavy oil and oilsands producer's sustainability reports.  I appreciate their efforts.

 I normally skip/head to the makeup fresh water useage part just after downloading and opening the document; wierd, I know. Then I backtrack to read the whole report. They all report in a similar template but IMO the larger the organization with their complex mix of production, tend to obfusciated their final report. 

 

MEG and Cenovous standout from the pack. Meg is a straight single asset SAGD (plus new bolt-on)  ,  and Cenovous does publish an excellant annual sustainability report keeping accounts clear distinguishing insitu, vs mining and refining.  They also don't hide negative line items, so bravo to them (until they start hiding stuff, ha).

 

 

 

For CVE, since taking over Husky, their freshwater addition to SAGD operations has flatline at a reasonable explainable level.  However their Lloydminster thermals freshwater makeup sucks and not improving. In fact , since the takeover, this line item has trended worst YOY.

 

The measure is reported in abs freshwater m3 volumes  and also by how many bbl of makeup freshwater per BOE of bitumen produced, like:
 

Oilsands                       0.12 bbls / BOE

Lloydminster thermal    4.000 bbls / BOE

 

Whenever I see this line item I wonder why CVE doesn't put special priority effort to remediate this? There is no side explaination or a short blub about any plans/timeline to fix/improve.  The Lloydminster thermals follow a cookie cutter recipe, therefore everytime they add new facilites this line item won't get better.

 

If CVE admend their contract with AXE to push thru R&D $ to get Marwayne done then CVE would have all the data they need to potenially FID next steps. Then dot dot dot, they have a potential solution. Of course this means mashing CTI/RFXL into their Lloydminster thermals recipe. 
 

A plan to improving the Lloydminster thermal makeup freshwater is something good, something worthy, CVE can tell their stakeholders about. 

[L.A.]

Thanks Whampoa very interesting info.   I would just like to add (and please correct me if I m wrong) the Marwayne test is in a heavy oil field not an oilsand reservoir. Most if not all the production in and around Lloydminster is heavy oil. Cenovus is very big and active in the Lloyd area after buying Husky energy.  As we all know Cenovus is one of the test partners and with the

[ScarletSpider]

I wish i could see things very differently. The partners know this works. They know they  can heavily benefit yet they continue to do what they are. I strongly believe they want the shares to fall to a nickel and then will offer possibly 10 to 20 times the share value and say we are offering a premium for acquisition what do people expect? If this was not going on like i said there would be 0

[ScarletSpider]

*i will also be buying shares in other companies so i can aggressively trade them while axe keeps moving along to the several dollar point where i will need to see the best moves from there.

[Saskisnow]

With Alberta having the highest power prices it might turn put that water is cheaper.

[ScarletSpider]

But that depletes useable water from essentials like farming and will create a crisis similar to trying to produce ethanol which wasnt worth doing at all.

[Saskisnow]

Of course, but the Oil and gas industry doesn't care, it's about maximizing profits as any astute business knows.

[ScarletSpider]

They will be smacked into line should this be a problem. There is a solution it is over here so i know regardless of who gets the tech it will come. People know what i said. Those who act very predatorily and who should have worked more equitably dont deserve this tech. This tech will come but i dont see it being in our partners hands nor do i want it to be while they keep doing or not doing as