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Consortium completes successful test of new oil sands recovery process using electromagnetic heating technology

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A technology and energy production consortium has successfully completed initial proof-of-concept testing of a novel oil sands extraction method that has the potential to improve environmental performance and reduce development costs. The consortium of Laricina Energy, Nexen Inc., Approximately 1.6

Oil-Sands 231
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Sustainable Development Canada Awards C$6M to Project to Reduce Water and Energy Consumption for Oil Sands Processing; Three Other Projects Supported to Reduce Energy and Environmental Impact of Oil Sands

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SOLVE adds a solvent to the steam in SAGD (basic operation depicted above) to reduce energy input and water consumption. The production well extracts the bitumen to surface heavy oil production facilities. SAGD is the predominant in-situ recovery method currently used in Canada’s oil sands. Source: StatoilHydro.

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Algae harvesting company OriginOil’s second CLEAN-FRAC licensing agreement targets Canadian oil sands market; urban algae demo project in Paris

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the developer of a process for harvesting algae and cleaning up oil & gas water, announced that its second original equipment manufacturer’s (OEM) agreement will target oil service companies in the Canadian oil sands market. LH was an early private investor in Athabasca Oil Corporation.

Oil-Sands 225
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GE, Univ. of Alberta and AITF Partnering on $4M Project to Reduce CO2 Emissions and Treat Produced Water from Oil Sands; Potential 25% Reduction of CO2

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GE is partnering with the University of Alberta (UA) and Alberta Innovates Technology Futures (AITF) on a $4 million CO 2 capture project supported by the Climate Change and Emissions Management (CCEMC) Corporation. The materials also have the potential to be used as filters for contaminated water.

Oil-Sands 199
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Devon Energy and BP Enter Into $7.0B Property Sales Agreement and Oil Sands Joint Venture

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Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oil sands leases in Alberta, Canada. billion in cash.

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ExxonMobil calls for hydraulic fracturing fluid disclosure in Europe

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Exxon Mobil Corporation called for the adoption of a systematic hydraulic fracturing fluid disclosure program in Europe to provide further information to communities, policymakers and regulators about natural gas development technologies. Tillerson, chairman and CEO of Exxon Mobil Corporation.

Europe 225
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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4

Oil 186