Husky Energy said Aug. 26 it has started production at its Dee Valley thermal project in Saskatchewan, Canada.
The project is the second of six 10,000-barrel-per-day thermal bitumen projects to be brought onstream from 2018 to 2022, the company said in a news release.
“Dee Valley is the latest in our deep portfolio of repeatable, small-scale Lloyd developments that provide low-cost, reliable feedstock for our upgrader, asphalt refinery and U.S. refineries,” CEO Rob Peabody said in the release. “These projects have direct access to our refining hub in Lloydminster and can be transported via committed export pipeline capacity to our refineries and other U.S. markets.”
Production at Dee Valley, which Peabody said is not subject to government-mandated production quotas, will ramp up through year-end, boosting Husky’s thermal production in Saskatchewan to 90,000 barrels per day (bbl/d).
The other four Saskatchewan thermal projects underway include Spruce Lake Central, with first production anticipated second-half 202; Spruce Lake North, with first oil planned around the end of 2020; Spruce Lake East, first production planned for around year-end 2021; Edam Central, first production is expected in 2022, according to the release.
Husky’s Rush Lake 2 Lloyd thermal project began production in October 2018.
Recommended Reading
Riverstone’s Leuschen Plans to IPO Methane-Mitigation-Focused SPAC
2025-01-14 - The SPAC will be Riverstone Holdings co-founder David Leuschen’s eighth, following the Permian Basin’s Centennial Resources, the Anadarko’s Alta Mesa Holdings and the Montney’s Hammerhead Resources.
EON Enters Funding Arrangement for Permian Well Completions
2024-12-02 - EON Resources, formerly HNR Acquisition, is securing funds to develop 45 wells on its 13,700 leasehold acres in Eddy County, New Mexico.
Utica’s Infinity Natural Resources Seeks $1.2B Valuation with IPO
2025-01-21 - Appalachian Basin oil and gas producer Infinity Natural Resources plans to sell 13.25 million shares at a public purchase price between $18 and $21 per share—the latest in a flurry of energy-focused IPOs.
Artificial Lift Firm Flowco’s Stock Surges 23% in First-Day Trading
2025-01-17 - Shares for artificial lift specialist Flowco Holdings spiked 23% in their first day of trading. Flowco CEO Joe Bob Edwards told Hart Energy that the durability of artificial lift and production optimization stands out in the OFS space.
Chevron Targets Up to $8B in Free Cash Flow Growth Next Year, CEO Says
2025-01-08 - The No. 2 U.S. oil producer expects results to benefit from the start of new or expanded oil production projects in Kazakhstan, U.S. shale and the offshore U.S. Gulf of Mexico.