In addition to its investment in Grizzly, Gulfport has operating assets in southern Louisiana and the Utica Shale of Eastern Ohio, with first quarter 2014 production average of approximately 27,000 barrels per day. Toronto Star articles, please go to: www.TorontoStarReprints.com, The Toronto Star and thestar.com, each property of Toronto Star Grizzly's Chief Executive Officer, John Pearce, commented, "The May River property adds substantially to the magnitude and quality of Grizzly's existing portfolio of projects which, upon completion of the transaction, will include approximately 800,000 net acres of oil sands leases and nearly 3 billion barrels of reserves and resources. It should be noted that reserves and Contingent Resources involve different risks associated with achieving commerciality. Grizzly Oil Sands finds the sweet spot with incorporation of crude-by-rail. Alberta Province has approved a new oil sands project costing more than $200 million by Grizzly Oil Sands ULC in northern Alberta, Kallanish Energy reports. John Pearce is doing something he probably never expected during his early days at Imperial Oil’s Cold Lake oilsands project. All Rights Reserved. Copyright owned or licensed by Toronto Star Newspapers Limited. Gulfport currently anticipates funding its interest in the acquisition through cash on hand and availability under its revolving credit facility. By Deborah Jaremko Sunday, February 1, 2015, 5 PM MST.

Grizzly's Chief Executive Officer, John Pearce, commented, "The May River property adds substantially to the magnitude and quality of Grizzly's existing portfolio of projects which, upon completion of the transaction, will include approximately 800,000 net acres of oil sands leases and nearly 3 billion barrels of reserves and resources. To explore Grizzly Oil Sands‘s full profile, request access. The May River Project would initially produce about 12,000 barrels of bitumen per day, perhaps as early as 2023. rights reserved. In addition, Gulfport holds a sizeable acreage position in the Alberta Oil Sands in Canada through its interest in Grizzly Oil Sands ULC. Gulfport owns 25 percent of Grizzly. Grizzly's lease holdings cover approximately 520,000 acres and its 11,300 bpd Algar Lake project application is currently before the regulators. Grizzly began an active lease acquisition program shortly after being founded and acquired numerous prospective leases in the 2006-2008 period. This information is available in the PitchBook Platform. Grizzly Oil Sands ULC. All Rights Reserved. The company has a large and diversified asset base, containing approximately 3.4 billion barrels of proved and probable reserves and contingent resources. Together they have mining operations capable of producing over 1.5 million barrels of oil a day and have construction projects that may produce up to 285,000 barrels of oil a day. After nearly 30 years in thermal heavy oil, he’s running a …

This is the Grizzly Oil Sands company profile. Grizzly Energy is a US onshore energy company. The ARMS development model is an ideal template for the development of the May River property and the inherent capital efficiencies and portability of the facilities should allow Grizzly to develop a very large scale project.". These could be different entities opperating out of the same location—like a shared office space, PO Box, or family home—or one … Grizzly Oil Sands ULC is a private company focused on the development of oil sands resources using steam assisted gravity drainage and a unique modular method for central plant construction. permissions/licensing, please go to: www.TorontoStarReprints.com. Star Newspapers Limited and/or its licensors. That production would then increase to 80,000 barrels per day. Grizzly oilsands project approved, now awaiting pipeline capacity increases: developer. The highlights of the May River property include: Grizzly intends to develop the May River property using SAGD recovery technology and its ARMS development model. Grizzly Oil Sands ULC is a full-cycle in situ oil sands project developer that is advancing the SAGD recovery model through facility design innovation and phased development centred on Grizzly’s unique ARMS concept. Glassdoor gives you an inside look at what it's like to work at Grizzly Oil Sands, including salaries, reviews, office photos, and more. There are five large oil sands mining operators. expressly prohibited without the prior written consent of Toronto

Following the closing of the transaction, Grizzly intends to begin the work necessary to file a regulatory application for full field development. (3) Best Estimate as defined in the COGE Handbook is considered to be the best estimate of the quantity that will actually be recovered from the accumulation. The smaller mines produce up to 100,000 barrels a day, while the largest mines can produce almost 300,000 barrels of oil in a day. June 2014 - Grizzly Oil Sands begins crude oil shipments to the U.S. Gulf Coast through Windell rail terminal, February 2014 - Grizzly Oil Sands begins operations at Algar Lake phase 1 project. Company Profile News Releases Presentations Striving to maximize resource recovery and returns for the benefit of our stakeholders. This transaction is subject to the satisfaction of certain standard conditions, including receipt of required regulatory approvals, and is expected to close by the end of February 2012. to colleagues, clients or customers, or inquire about Grizzly intends to grow in manageable increments to production of up to 150,000 barrels per day within 10 years and maintain additional growth potential thereafter. It also requires federal approvals to proceed. Phase 1 of the Algar Lake project is ramping up production and Grizzly's May River and Thickwood  projects are in the regulatory approval process. Grizzly's Advanced, Re-locatable, Modular and Standardized (ARMS) plant design was developed to improve capital efficiency, development schedule and operating metrics for its SAGD projects. Grizzly is a growing oil sands development company led by a management team with decades of oil and gas experience. Grizzly has delineated three key properties. President Serge Bisson of privately held Grizzly Oil Sands ULC says the company will now meet with its owners, Wexford Capital LP with 75 per cent and Gulfport Energy Corp. with 25 per cent, to discuss how to proceed with the May River project, which is estimated to cost more than $200 million to build. It was formerly part of Wexford’s portfolio. It was formerly part of Wexford’s portfolio. All rights reserved.

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