Connacher Oil and Gas Ltd. announced a management change and announced new reserve and/or resource estimates for Great Divide (Connacher), located in Canada.
Connacher Oil and Gas announced it continues to ramp up its production of bitumen at Great Divide, Canada, with recent daily levels reaching 14,000 bbl/d and recent weekly recorded rates double year-todate averages. Volumes reported include production from Algar. Results from Algar were being capitalized and are not included in the company’s operating results for the reporting period. Commerciality for Algar has now been achieved. The determination occurred within two months of full steam-assisted gravity drainage production startup. Algar operating results will now be included in fourth quarter 2010 and year-end 2010 reports.
Connacher Oil and Gas Limited that combined bitumen production from its Pod One and Algar steam assisted gravity drainage operations exceeded 13,200 bbl/d during the seven days ended October 22, 2010. This represents a 14 percent increase in output since our last report on October 4, 2010. Algar and Pod One are located on the company’s Great Divide oil sands lease block, approximately 80 km southeast of Fort McMurray, Alberta, Canada.
Research - Professional or Research - Advanced Subscriber Access Required
