Heavy Oil: An attractive play in the western U.S.

  • Little competition (compared to Canada)
  • Lots of undeveloped and undiscovered heavy oil properties
  • Low risk high reward exploration and economics
  • Technologically driven plays with manufacturing-model development and extremely high recovery efficiencies (>80%)
  • Opportunity for technologically-focused companies with experience and know-how from the Canadian heavy oil sector to succeed.

The Elk Hills Heavy Oil Prospect and adjoining acreage is one of the most attractive undeveloped heavy crude prospects in the Western USA.

  • A potential accumulation of at least 200 MMBO is anticipated in a large anticlinal structure at the north end of the world-class (2BBO/3TCF) Bighorn Basin, Wyoming
  • Similar structures within twenty-five miles of the Elk Hills Heavy Oil Prospect have produced in excess of 500MMBO of heavy oil and black oil from the same reservoir that underlies the prospect.
  • The 22,000 acre leasehold is overwhelmingly private fee acreage with no governmental surface restrictions in either access or timing.
  • A 12” crude oil pipeline crosses the leasehold and three refineries are within 12 miles
  • The topography of the leasehold is gentle and the pilot EOR project can be positioned on the crest of the structure near the old exploration wells that penetrated reservoir rocks saturated with heavy oil.
  • The Tensleep sandstone is an excellent eolian reservoir with high porosity and permeability that has responded very well to older EOR techniques in the Bighorn Basin; modern methods will yield even better recovery efficiencies.
  • Heavy oil knowledge and exploration in the U.S. lags way behind that in Canada. Less competition and the opportunity to apply innovative Canadian technology and knowledge make EOR of heavy oil accumulations in the US an attractive business model both economically and technologically
  • Knowledge gained in the Elk Hills Heavy Oil Project will enable Elk Hills Petroleum to expand confidently into other heavy oil play in the western U.S.
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