oilsands review project status february 2013

CURRENT PROJECT CAPACITY START-UP REGULATORY STATUS

NORTH ATHABASCA REGION — MININGCanadian Natural Resources Limited

Horizon Updated: Dec 2012

Canadian natural says it continues its strategy of staged expansion to 250,000 barrels per day and work remains on track. Projects currently under construction are trending at or below estimates.

Phase 1 135,000 2008 operating

Phase 2a 10,000 2014 Construction

Phase 2B 45,000 tBd approved

Phase 3 80,000 tBd approved

tranche 2 5,000 2012 operating

Imperial Oil Limited

• Kearl Updated: Jan 2013

imperial oil says that start-up of Kearl is underway—which was supposed to start operating in december—but is delayed due to cold weather and earlier issues with transportation of modules from Korea.

Phase 1 110,000 2013 Construction


Phase 3 debottleneck 70,000 2020 approved

Shell Albian Sands

• Jackpine Updated: Dec 2012

a decision from the federal joint review panel on the Jackpine project is expected in May 2013.

expansion 100,000 2017 application

Phase 1a 100,000 2010 operating


Muskeg River Updated: Nov 2012

Commercial 155,000 2002 operating

expansion & debottlenecking 115,000 tBd approved

Pierre River Updated: Aug 2012

a joint review panel of the Canadian environmental assessment agency and energy Resources Conservation Board has been established to review the proposed Pierre River mine project. the timeline for the joint review panel to submit its report is 550 days (18 months) from coming into force in July 2012.

Phase 1 100,000 2018 application

Phase 2 100,000 tBd application

Suncor Energy Inc.

Base Operations Updated: Dec 2012

suncor says it has started up its new Millennium naphtha unit and has run it at full rates. the unit is expected to stabilize secondary upgrading capacity and provide flexibility during maintenance activ-ities for secondary upgrading units in the future.

Millennium debottlenecking 23,000 2008 operating

Millennium Mine 294,000 1967 operating

north steepbank extension 180,000 2012 operating

steepbank debottleneck Phase 3 4,000 2007 operating


Fort Hills Updated: Dec 2012

suncor and partner total continue to review development timelines for fort Hills.

debottleneck 25,000 tBd approved

Phase 1 165,000 2016 approved

voyageur South Updated: May 2012

suncor considers Voyageur south to be a “longer-term” project and has not confirmed a start-up date.


Syncrude Canada Ltd.

Mildred Lake/Aurora Updated: Oct 2012

syncrude has announced it is embarking on a new mine extension project at Mildred lake, which will be known as the MlX project. Canadian oil sands says MlX will leverage investment in the two mine trains currently being constructed, enabling syncrude to extend the life of Mildred lake mining operations by about a decade. Project scoping is underway, and pending regulatory approval, con-struction and spending would commence in the next 10 years.

aurora south train 1 100,000 2016 approved

aurora south train 2 100,000 2018 approved

Base Mine stage 1 & 2 expansion 290,700 1978 operating

stage 3 expansion 116,300 2006 operating

Teck Resources Limited

Frontier Updated: Oct 2012

teck says it received the final supplemental information requests relating to the frontier regulatory application in Q3/2012 and anticipates responding in early 2013.




Phase 4 equinox 40,000 2030 application

Total E&P Canada Ltd.

Joslyn North Mine Updated: Jul 2012

Project partner suncor energy says submit development plans will be submitted to the companies’ respective boards of directors for a sanctioning decision in 2013.


NORTH ATHABASCA REGION — IN SITUAthabasca Oil Corporation

Birch Updated: Dec 2012

aos says $28.9 million was spent at Birch in the first nine months of 2012, mainly on drilling of one water and 22 delineation wells. in addition, the company shot 54 square kilometres of 3d seismic. winter delineation drilling and seismic programs are being evaluated for 2013.

Phase 1 12,000 tBd announced

Dover West Carbonates (Leduc) Updated: Dec 2012

aos says regulatory approval for the demonstration project is anticipated imminently. the design basis memorandum is complete and the engineering design specification work is well underway. Construction is also ongoing on a tagd-related heater assembly facility near strathmore, alta.

Phase 1 demonstration 6,000 2015 application

Phase 2 demonstration 6,000 tBd application

40 oilsands ReView | FEBRUARY 2013

P R o J e C t s tat u s

project statusPeace River Region

Athabasca Region

Northwestern Saskatchewan

Industrial Heartland Region

Cold Lake Region

Sourced from company releases, the Energy Resources Conservation Board and the Daily Oil Bulletin, with files from Strategy West. For changes and updates, please contact Deborah jaremko at [email protected]. disclaimer: Oilsands review accepts no liability for errors or inaccuracies in the information provided in this report.

For more detailed project data, visit oilsandsreview.com. to explore projects in the athabasca oilsands region using our interactive web tool, visit the Canadian oilsands navigator at navigator.oilsandsreview.com.

NORTH ATHABASCA REGION

SOUTH ATHABASCA REGION

COLD LAKE REGION

SASKATCHEWAN REGION

INDUSTRIAL HEARTLAND REGION

NEW ExPORT PIPELINES

PEACE RIVER REGION NEW INfORMATION THIS MONTH•

02 13


Dover West Sands & Clastics Updated: Dec 2012

in the first nine months of 2012, aos acquired approximately 30,000 acres of oilsands leases contiguous to its existing dover west assets. the company says its dover west sands project could now eventually support development up to 270,000 barrels per day. Regulatory approval and inter-nal sanction for the first 12,000-barrel-per-day phase are expected in 2013. aos says it is leveraging work done on feed for its Hangingstone project for dover west.


Phase 2 35,000 2018 announced




BP p.l.c.

Terre de Grace Updated: May 2012

BP says that ongoing appraisal activities include delineation drilling, seismic acquisition and appraisal of water sources.

Pilot 10,000 tBd approved

Canadian Natural Resources Limited

Birch Mountain Updated: Jul 2012

Canadian natural says geological scoping is underway.



Cenovus Energy Inc.

East McMurray Updated: Aug 2012


Steepbank Updated: Aug 2012


• Telephone Lake Borealis Updated: Dec 2012

Cenovus says it continues to progress the telephone lake regulatory application while it operates its dewatering pilot, with water production and air injection proceeding as planned.

Phase a 45,000 tBd application

Phase B 45,000 tBd application

Dover Operating Corp.

Dover Updated: Dec 2012

athabasca oil Corporation is planning a likely sale of its stake in the dover project to partner (and dover opCo owner PetroChina) once the previously determined decision trigger mechanism of regulatory approval is granted.

dover north Phase 1 50,000 2016 application

dover north Phase 2 50,000 2018 application

dover south Phase 3 50,000 2020 application



Mackay River Updated: Apr 2012

eRCB project approval granted January 2012. dover opCo says construction is underway.





E-T Energy Ltd.

Poplar Creek Updated: Oct 2012

e-t energy has reinstated Bruce Mcgee as Ceo based on his technological expertise as it works on pilot operations to support a new commercial project application. its previous application was denied by the eRCB in 2012.

experimental Pilot 1,000 2007 operating




Grizzly Oil Sands ULC

Thickwood Updated: Dec 2012

at the end of Q3/2012 grizzly part owner gulfport energy said a regulatory application for the thickwood project was expected by year-end 2012.



Husky Energy Inc.

Saleski Updated: Dec 2012

Husky plans to submit a regulatory application for the saleski project in 2013.

Carbonate Pilot tBd 2016 announced

Sunrise Updated: Dec 2012

Husky says sunrise continues to meet its construction milestones and remains on schedule for first oil in 2014. all significant contracts for Phase 1, including the central processing facility, have now been converted to lump sum payment. over 85 per cent of the project costs are now fixed. Planning, design and engineering for the next phase of development continues.






Aspen Updated: Sep 2012


Ivanhoe Energy Inc.

Tamarack Updated: Dec 2012

ivanhoe is responding to a third round of supplemental information requests from regulators regarding its project application. approval is now anticipated in 2013.



Marathon Oil Corporation

Birchwood Updated: Jul 2012

Marathon said that based on results of completed appraisal drilling, a regulatory application would be filed in 2012.

demonstration 12,000 2016 application

N-Solv Corporation

Dover Updated: Jun 2012

Reports are that first results from a $60-million n-solv field test are expected in spring 2013.

demonstration Plant 500 2013 Construction

Oak Point Energy Ltd.

Lewis Updated: Mar 2012

Pilot 1,720 2013 application

SilverWillow Energy Corporation

Audet Updated: Dec 2012

silverwillow says engineering consultants have been selected to prepare preliminary engineering de-sign and cost estimates for audet production facilities and infrastructure, to conduct environmental baseline studies and to provide support for the regulatory application, which is expected to be filed in the second half of 2013.

Pilot 12,000 2016 announced

Southern Pacific Resource Corp.

STP-McKay Updated: Oct 2012

southern Pacific says operations are progressing as planned, with the first of the well pairs now being converted from steam circulation to bitumen production.


Phase 1 expansion 6,000 2014 application

Phase 2a 12,000 2017 application

Phase 2B 6,000 2017 application

FEBRUARY 2013 | oilsandsReView.CoM 41

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Suncor Energy Inc.

Firebag Updated: Dec 2012

suncor reports it has achieved first oil from firebag stage 4, approximately three months ahead of schedule. Production has now reached 130,000 barrels per day.

Cogeneration and expansion 25,000 2007 operating

stage 1 35,000 2004 operating



stage 3-6 debottleneck 23,000 tBd application


stage 5 62,500 2018 approved

stage 6 62,500 2019 approved

Lewis Updated: Nov 2012



MacKay River Updated: Nov 2012

MR2 40,000 2016 application


Sunshine Oilsands Ltd.

Harper Updated: May 2012

sunshine says that steam cycle injection operations at Harper have proved thermally induced oil mobility.

Carbonate Pilot 1,000 2011 operating

Legend Lake Updated: Dec 2012

sunshine says regulatory approval for legend lake is anticipated in the first half of 2013.

a Phase 1 10,000 2016 application

a Phase 2 20,000 tBd announced

B Phase 1 20,000 tBd announced

Thickwood Updated: Dec 2012

sunshine says feed for thickwood is approximately 10 per cent complete. approval is anticipated in the first half of 2013.

a Phase 1 10,000 2015 application

a Phase 2 20,000 2018 announced

B Phase 1 20,000 2021 announced


West Ells Updated: Dec 2012

sunshine says construction on west ells remains on schedule and on budget. the access road is now complete and ready for heavy hauls, and pilings for the central processing facility have commenced. some of the major equiptment is in transit. Civil construction of the central processing facility is 40 per cent complete, with facilities engineering 75 per cent complete. the first sagd well pair has been spudded.

a Phase 1 5,000 2013 Construction

a Phase 2 5,000 2014 approved

a Phase 3 20,000 2018 announced

B Phase 1 20,000 2020 announced

B Phase 2 20,000 tBd announced

C Phase 1 30,000 tBd announced

SOUTH ATHABASCA REGION — IN SITUAlberta Oilsands Inc.

Clearwater West Updated: Dec 2012

alberta oilsands says it has restructured key consultants to consolidate costs as it pushes to permit the Clearwater project. the company has retained Petrospec engineering to spearhead and project manage the ongoing project application process with regulators.

Phase 1 Pilot 4,350 tBd application


Athabasca Oil Corporation

Hangingstone Updated: Dec 2012

aos has sanctioned the first phase of its $536 million Hangingstone sagd project at a projected cost of $44,700 per flowing barrel. sagd drilling is expected to commence mid-2013.




BlackPearl Resources Inc.

Blackrod Updated: Dec 2012

BlackPearl says its Blackrod sagd pilot continues to operate in-line with expectations. Regulatory approval has been received to drill a second horizontal well pair, which will be done Q1/2013. the project management team for the first commercial phase is being assembled and will determine the ePC contractor as one of its initial decisions.




Pilot 800 2011 operating


Gregoire Lake Updated: Jul 2012

Canadian natural says geological scoping is underway.





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Grouse Updated: Dec 2012

Canadian natural says timing of grouse has been adjusted to accommodate the potential inclusion of recently acquired lands adjacent to the company’s Kirby area and provide a more balanced capital expenditures profile going forward. first steam at grouse is now expected between 2017 and 2019.

Commercial 50,000 tBd application

Kirby North Updated: Dec 2012

Canadian natural has budgeted approximately $205 million for Kirby north in 2013 to progress detailed engineering, order modules and construct camp facilities. Project sanction is targeted for the first half of 2013. to accomodate the acquisition of lands adjacent to the Kirby area that Canadian natural may include in the project, first steam at Phase 1 is now anticipated in 2016.



Kirby South Updated: Dec 2012

Canadian natural says construction of Phase 1 continues to progress ahead of plan and is now 74 per cent complete, with 89 per cent of capital expenditures committed.



Cavalier Energy Inc.

Hoole Updated: Dec 2012

Cavalier submitted the regulatory application for the first phase at Hoole in november 2012. assum-ing regulatory approval and favourable market conditions, construction is expected to begin in 2014, with first production in 2015.





Cenovus Energy Inc.

• Christina Lake Updated: Jan 2013

Phase e is about 65 per cent complete, and Phase f construction is advancing. engineering and design work is underway for Phase g, and Cenovus plans to file the regulatory application for Phase H in 2013.

future optimization 12,000 tBd announced


Phase 1B 8,800 2008 operating

Phase C 40,000 2011 operating

Phase d 40,000 2012 operating

Phase e 40,000 2013 Construction

Phase f 50,000 2016 approved

Phase g 50,000 2017 approved

Phase H 50,000 2019 announced


• Foster Creek Updated: Dec 2012

Phase f is now approximately 65 per cent complete, and Cenovus says progress continues to be made on g and H. the company plans to submit a regulatory application for Phase J in 2013.

future optimization 15,000 tBd announced

Phase a 24,000 2001 operating

Phase B debottleneck 6,000 2003 operating

Phase C stage 1 10,000 2005 operating

Phase C stage 2 20,000 2007 operating

Phase d 30,000 2009 operating

Phase e 30,000 2009 operating

Phase f 45,000 2014 Construction

Phase g 40,000 2015 approved

Phase H 40,000 2016 approved

Phase J 50,000 2019 announced

• Narrows Lake Updated: Dec 2012

site preparation is underway, with construction of the Phase a plant scheduled to begin in Q3/2013.




• Pelican Lake Grand Rapids Updated: Dec 2012

Cenovus says it anticipates regulatory approval for the commercial grand Rapids pilot in 2013.

Phase a 60,000 2017 application

Phase B 60,000 tBd application

Phase C 60,000 tBd application


West Kirby Updated: Aug 2012


Winefred Lake Updated: Aug 2012


Connacher Oil and Gas Limited

Algar Updated: Oct 2012

Connacher has sold two subsidiaries for proceeds of approximately $200 million, which the company says positions it to “execute a meaningful capital program” including projects designed to increase production and improve netbacks at algar and great divide Pod 1. this could increase production by as much as 5,000 barrels per day over the next 15–24 months.

Pod 2 10,000 2010 operating




Great Divide Updated: Oct 2012

Connacher received regulatory approval for the two-phase, 24,000-barrel-per-day expansion at great divide in september 2012. the company says the approval allows it to advance its evaluation of project costs, timing and financing alternatives.

expansion 1a 12,000 2014 approved

expansion 1B 12,000 2016 approved

Pod 1 10,000 2007 operating

ConocoPhillips Canada Limited

Surmont Updated: Oct 2012

ConocoPhillips Canada says engineering for surmont 2 is expected to be complete and the majority of materials and equipment delivered to site by year end, in anticipation of peak construction in 2013.



Pilot 1,200 1997 operating

Devon Canada Corporation

Jackfish Updated: Oct 2012

devon says ramp-up of Jackfish 2 is now approximately two-thirds complete, while construction of the Jackfish 3 project is now approximately 40 per cent complete.




Jackfish East Updated: Sep 2012

expansion 20,000 2018 announced

Pike Updated: Jul 2012

devon filed the regulatory application for all three phases of the Pike project in June 2012. the company says facility construction and sagd drilling for the first phase will begin in late 2013 or early 2014, pending corporate approvals. the company has also submitted its environmental impact assessment report for the project.

1a 35,000 2016 application

1B 35,000 2017 application

1C 35,000 2018 application

Grizzly Oil Sands ULC

Algar Lake Updated: Dec 2012

Construction on the first phase at algar reportedly remains on track for commissioning in Q1/2013 with first production by mid-year.



May River Updated: Dec 2012

grizzly says it anticipates full-field development of its May River asset to ultimately produce more than 75,000 barrels per day using sagd and its aRMs development model. Part owner gulfport energy says 20–25 core holes will be drilled at May River this winter, following which sufficient exploration will have occured to submit the sagd application.



Harvest Operations Corp.

BlackGold Updated: Dec 2012

Harvest says 15 sagd well pairs have now been drilled, and engineering is now 80 per cent com-plete. the site has been cleared and graded and now piling and foundation work is underway. Phase 2 of the project is now in the regulatory process, with approval now anticipated in 2013.



Husky Energy Inc.

McMullen Updated: Dec 2012

Husky says that 32 slant wells have been drilled for primary production development at McMullen. the company says the air injection pilot is continuing as planned, with further testing planned for Q4/2012.

air injection Pilot-experimental 755 2012 operating

Japan Canada Oil Sands Limited

• Hangingstone Updated: Dec 2012

Japan Canada oil sands owner JaPeX has sanctioned the Hangingstone expansion project. Project partner nexen is expected to sanction its share of the development early in 2013.

expansion 35,000 2016 application


• Hangingstone Pilot Updated: Dec 2012


Koch Exploration Canada Corporation

Muskwa Updated: Jun 2012

Koch’s Canadian subsidiaries are seeking a strategic investor to advance development and monetize certain oilsands interests including the Muskwa asset.


Laricina Energy Ltd.

Germain Updated: Dec 2012

laricina says germain construction continues on time and on budget. detailed engineering is complete, approximately 60 per cent of modules have been installed and 80 per cent of module fab-rication is complete. Regulatory consultation for the 150,000-barrel-per-day expansion is continuing as planned, and approval is anticipated in 2013.

Phase 1 CdP 5,000 2013 Construction




Saleski Updated: Dec 2012

laricina has filed a project update to the saleski Phase 1 regulatory application to reflect the change of well configuration to a single horizontal well cyclic sagd from a dual-well sagd process.

experimental Pilot 1,800 2011 operating


MEG Energy Corp.

• Christina Lake Updated: Dec 2012

Meg anticipates it will increase production at Christina lake by about 20 per cent in 2013 compared to 2012 thanks to its RiseR initiative (which includes enhanced modified steam and gas push), and start-up of Phase 2B in the second half of the year.

Phase 1 Pilot 3,000 2008 operating


Phase 2B 35,000 2013 Construction

Phase 3a 50,000 2016 approved

Phase 3B 50,000 2018 approved

Phase 3C 50,000 2020 approved

Surmont Updated: Dec 2012

Meg’s environmental impact assessment report for surmont was filed in late october, while the regulatory application was filed in september. Public consultation is ongoing.




Nexen Inc.

• Long Lake Updated: Dec 2012

CnooC’s bid to acquire nexen has been approved by the Canadian government and is expected to close imminently.

long lake south (Kinosis) Phase 1 40,000 tBd approved

long lake south (Kinosis) Phase 2 40,000 tBd approved





Osum Oil Sands Corp.

Sepiko Kesik Updated: Dec 2012

alberta environment has issued the proposed terms of reference for the sepiko Kesik project. sepiko Kesik would use sagd in grosmont bitumen carbonate formation.






Statoil

Kai Kos Dehseh Updated: Oct 2012

statoil says its next projects will be an expansion to leismer, and the Corner project. Corner will be sanctioned late in 2013 or early in 2014. the company has appointed a new president of its Canadian operations, stale tungesvik.

Corner 40,000 2017 approved

Corner expansion 40,000 tBd application

Hangingstone 20,000 tBd application

leismer Commercial 10,000 tBd approved

leismer demonstration 10,000 2010 operating

leismer expansion 20,000 tBd approved

leismer northwest 20,000 tBd application

leismer south 20,000 tBd application

thornbury 40,000 tBd application

thornbury expansion 20,000 tBd application

Suncor Energy Inc.

Chard Updated: Nov 2012


Meadow Creek Updated: Nov 2012



Surmont Energy Ltd.

Wildwood Updated: Oct 2012

surmont filed its regulatory application in early october, almost exactly one year after being incor-porated as a company.


value Creation Inc.

Advanced TriStar Updated: Dec 2012

Value Creation has submitted an environmental assessment report for the advanced tristar project.

ats-1 15,000 2016 application



• TriStar Updated: Oct 2012


COLD LAKE REGION — IN SITUBaytex Energy Corp.

• Cold Lake Updated: Dec 2012

Baytex says it will build facilities and drill one sagd well pair in 2013. following successful oper-ations of this pilot, the company will proceed with construction of the 5,000-barrel-per-day first commercial phase in 2014.

Commercial 5,000 2016 approved


Birchwood Resources Inc.

Sage Updated: Jun 2012

Birchwood has released its public disclosure document and has held an open house with area residents, some of whom were concerned by the development.

Pilot 5,000 2015 announced


Primrose & Wolf Lake Updated: Dec 2012

Canadian natural has completed additional pad drilling at Primrose on schedule and drilled on budget. these wells are expected to come on production in 2013.

Primrose east 32,000 2008 operating

Primrose north 30,000 2006 operating

Primrose south 45,000 1985 operating

wolf lake 13,000 1985 operating


Devon Canada Corporation

Walleye Updated: Jun 2012

devon filed its regulatory application for walleye in June 2012. the company says construction will start in 2013.


Husky Energy Inc.

Caribou Updated: Nov 2010

demonstration 10,000 tBd approved

Tucker Updated: May 2012



Cold Lake Updated: Dec 2012

imperial says that the nabiye expansion is progressing on schedule. facility construction is underway and drilling has commenced on two production pads.

Phase 1-10 110,000 1985 operating

Phase 11-13 30,000 2002 operating

Phase 14-16 40,000 2014 Construction

Osum Oil Sands Corp.

Taiga Updated: Oct 2012

osum received regulatory approval for the 35,000-barrel-per-day taiga project. the company says it is now considering financing options.



Pengrowth Energy Corporation

Lindbergh Updated: Dec 2012

Pengrowth’s board of directors has committed $55 million for critical path-related, long-lead equip-ment for the lindbergh project thanks to encouraging pilot performance. More details on the timing and scope of the commercial project are expected early in 2013.

Phase 1 Commercial 12,500 2015 application

Phase 2 Commercial 17,500 2016 announced


Royal Dutch Shell plc

Orion Updated: Jun 2012

shell is looking to sell the orion property, reportedly to focus on in situ operations at Peace River.



PEACE RIvER REGION — IN SITUAndora Energy Corporation

Sawn Lake Updated: Dec 2012

andora energy majority owner Pan orient energy says activities are currently underway to com-mence steam injection at sawn lake in Q2/2013, with production anticipated in Q4/2013.

sagd demonstration 1,400 2013 approved

Baytex Energy Corp.

• Cliffdale Updated: Dec 2012

subject to regulatory approvals, Baytex anticipates development of a new 15-well thermal module to begin in Q1/2013, building on the 10-well module that has been operating since dec. 2011.


Murphy Oil Company Ltd.

Cadotte Updated: Nov 2012

Pilot tBd tBd application

Seal/Cadotte Updated: Nov 2012

Pilot tBd 2012 operating

Northern Alberta Oil Ltd.

Sawn Lake Updated: Dec 2012

Company owner deep well oil & gas says worleyParsons has launched preliminary engineer-ing work on the sawn lake pilot project. the work will include a pilot plan, process flow diagrams, material balances for hydrocarbons, sulphur and water, description of the capacity and content of emissions.

Css Pilot 700 tBd approved




Penn West Petroleum Ltd.

Harmon valley South Updated: Dec 2012

Penn west and its partner have received regulatory approval to proceed with the Harmon Valley south pilot.

Pilot tBd tBd approved

Seal Main Updated: Sep 2012

Commercial 10,000 2015 application


Petrobank Energy and Resources Ltd.

Dawson Updated: Jul 2012

Petrobank says it is awaiting regulatory approval to initiate cold production on its two well demon-stration project to condition the reservoir prior to tHai operations.

experimental tHai demonstration 10,000 2013 Construction


Royal Dutch Shell plc

Peace River Updated: Dec 2011

alberta’s environmental assessment director has deemed complete shell Canada’s environmental impact assessment report for the Carmon Creek expansion.

Cadotte lake 12,500 1986 operating

Carmon Creek - Phase 1 40,000 2015 application

Carmon Creek - Phase 2 40,000 2018 application

Southern Pacific Resource Corp.

Red Earth Updated: Oct 2012

southern Pacific has yet to release its future development plans for the Red earth project.

Commercial 10,000 tBd announced


Pilot expansion 3,000 tBd announced

NORTH ATHABASCA REGION — UPGRADERBP p.l.c.

Terre de Grace Updated: May 2012

BP says that ongoing appraisal activities include delineation drilling, seismic acquisition and ap-praisal of water sources.



Horizon Updated: Dec 2012

Canadian natural says it continues its strategy of staged expansion to 250,000 barrels per day and work remains on track. Projects currently under construction are trending at or below estimates.


Phase 2a 10,000 2014 Construction



tranche 2 5,000 2012 operating

Ivanhoe Energy Inc.

Tamarack Updated: Dec 2012

ivanhoe is responding to a third round of supplemental information requests from regulators regard-ing its project application. approval is now anticipated in 2013.


Suncor Energy Inc.

Base Operations Updated: Dec 2012

suncor says it has started up its new Millennium naphtha unit and has run it at full rates. the unit is expected to stabilize secondary upgrading capacity and provide flexibility during maintenance activ-

ities for secondary upgrading units in the future.

Millennium Coker unit 97,000 2008 operating

Millennium Vacuum unit 35,000 2005 operating

u1 and u2 225,000 1967 operating


Fort Hills Updated: Dec 2012

suncor and partner total continue to review development timelines for fort Hills.

Phase 1 145,000 tBd on Hold

Phase 2 & 3 145,000 tBd on Hold

voyageur Upgrader 3 Updated: Dec 2012

suncor and partner total have agreed to an immediate minimum spend program on Voyageur. a go/no-go decision on the project is now expected in Q1/2013.



Syncrude Canada Ltd.

Mildred Lake/Aurora Updated: Oct 2012

syncrude has announced it is embarking on a new mine extension project at Mildred lake, which will be known as the MlX project. Canadian oil sands says MlX will leverage investment in the two mine trains currently being constructed, enabling syncrude to extend the life of Mildred lake mining operations by about a decade. Project scoping is underway, and pending regulatory approval, con-struction and spending would commence in the next 10 years.

Base Plant stage 1 & 2 debottleneck 250,000 1978 operating

stage 3 debottleneck 75,000 tBd announced

stage 3 expansion (ue-1) 100,000 2006 operating

SOUTH ATHABASCA REGION — UPGRADERNexen Inc.

• Long Lake Updated: Dec 2012

CnooC’s bid to acquire nexen has been approved by the Canadian government and is expected to close imminently.





value Creation Inc.

Advanced TriStar Updated: Dec 2012

Value Creation has submitted an environmental assessment report for the advanced tristar project.




• TriStar Updated: Oct 2012

Pilot 840 2014 application

INDUSTRIAL HEARTLAND REGION — UPGRADERNorth West Upgrading Inc.

Redwater Upgrader Updated: Nov 2012

Project partners north west upgrading and Canadian natural Resources have sanctioned the pro-ject, with above-ground construction to begin in spring 2013.




Shell Albian Sands

Scotford Upgrader 1 Updated: Jul 2012

Commercial 158,000 2003 operating

expansion 91,000 2011 operating

value Creation Inc.

Heartland Updated: Dec 2012

Construction was suspended in september 2008. Value Creation says it remains committed to the project and is seeking a development partnership.

Phase 1 46,300 tBd on Hold






S TAT I S T I C S


S TAT I S T I C S

statistics02 13Taking a close look at the inputs to and outputs of the oilsands industry.For suggestions or data contributions, please contact Deborah Jaremko, [email protected].

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Bow River Cold lake blend light sour Condensate

western Canadian select 985 kg/m3 3.5% sulphur bitumen west texas intermediate* Brent**

350

300

250

200

150

100

50

0

forestry, fishing, mining, oil and gas Construction trade

SOU

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Monthly Crude Oil Prices: May 2012 – Dec. 2012 Alberta Labour force Statistics

May 1 jun 1 jul 2 Sep 3 Oct 1 Dec 3 2012

dec

201

1

Jan

2012 Feb

Mar

apr

May Ju

n

Jul

aug se

p

oct

nov


S TAT I S T I C S

jul 2011 0 $0.00 0 $0.00 5,888 $27.18

Aug 2011 768 $15.89 1,024 $340.25 0 $0.00

Sep 2011 924 $279.79 0 $0.00 0 $0.00

Oct 2011 0 $0.00 584 $379.37 0 $0.00

Nov 2011 no PuBliC offeRing notiCes

Dec 2011 29,108 $1,913.50 0 $0.00 0 $0.00

jan 2012 0 $0.00 128 $560.50 512 $613.18

feb 2012 0 $0.00 1,152 $621.19 0 $0.00

Mar 2012* 44,800 $16.02 0 $0.00 1,792 $44.47

Apr 2012 0 $0.00 0 $0.00 1,536 $1,052.00

May 2012** 512 $138.13 768 $101.04 9,165 $44.16

jun 2012 0 $0.00 701 $737.35 0 $0.00

jul 2012 11,816 $258.84 1,024 $339.49 0 $0.00

Aug 2012 512 $273.47 256 $1,227.49 0 $0.00

Sep 2012 832 $119.14 512 $2,123.33 1,024 $115.96

Oct 2012 0 $0.00 256 $317.97 0 $0.00

Nov 2012 1,024 $136.70 256 $2,876.76 0 $0.00

Dec 2012 no PuBliC offeRing notiCes

*includes athabasca region oilsands permits from Mar. 24 sale.

**includes Peace River region permits from May 2 sale.

Public Offerings of Crown Oilsands Rights

Athabasca Cold Lake Peace River

Sale Month Hectares $/Hectare Hectares $/Hectare Hectares $/Hectare

Large Cap

Integrated

Oilsands60

80

40

100

120

140

Mar

Feb

Apr

Feb

2011

Mar

Jan

2012

May Ju

l

Jun

Sep

Aug

Nov

Dec

*

Oct

Apr

May Ju

n

Jul

Aug Se

p

Oct

Nov

Dec

index launched Jan. 1, 2007. firstenergy complimentary indexes are available daily on the homepage at firstenergy.com. firstenergy Capital Corp. is a member of the Canadian investor Protection fund and iiRoC.

*Recorded until dec. 19, 2012.

Sou

rce: FirSten

ergy c

apita

l co

rp.

firstEnergy Oilsands, Integrated and Large Cap Indexes

oilsands integrated large Cap

SOU

RCE: g

Ov

ERnm

Ent O

f albERta


S TAT I S T I C Sst

eam

inje

cted

:oil

prod

uced

Alberta Crude Bitumen and Synthetic Crude Production 2010-12

Crude bitumen synthetic crude

mill

ion

barr

els

Sou

rce: A

lbertA en

ergy reSo

urc

eS c

on

ServA

tion

boA

rd

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

Apr

May Ju

n

Jul

Aug Se

p

Oct

Nov

Jan

2012

Mar

Dec Fe

b

Apr Jun

Feb

2010

Mar

Apr

May Ju

n

Jul

Aug Se

p

Oct

Nov

Dec

Jan

2011

Feb

Mar

May

AugJu

l

Thermal Oilsands Project Steam to Oil Ratios (Steam Injected:Oil Produced)

0

2.0

1.0

3.0

4.0

5.0

6.0

7.0

8.0 141.80 (Aug)138.07 (Sep)

Aug 2012Apr 2012 May 2012 Jul 2012 Sep 2012Jun 2012

Cenovus Energy Inc. Pelican Lake Grand Rapids

Pengrowth Energy Corporation Lindbergh Pilot

Southern Paci�c Resource Corp. STP-McKay

Husky Energy Inc. Tucker

Nexen Inc. Long Lake

Royal Dutch Shell plc Orion

Connacher Oil and Gas Limited Great Divide

Connacher Oil and Gas Limited Algar

Japan Canada Oil Sands Limited Hangingstone Pilot

Canadian Natural Resources Limited Primrose & Wolf Lake

BlackPearl Resources Inc. Blackrod

Baytex Energy Corp. Cliffdale Pilot

Suncor Energy Inc. Firebag

Imperial Oil Limited Cold Lake

Royal Dutch Shell plc Peace River

ConocoPhillips Canada Limited Surmont Pilot

Devon Canada Corporation Jackfish

MEG Energy Corp. Christina Lake

ConocoPhillips Canada Limited Surmont

Statoil Leismer

Suncor Energy Inc. MacKay River

Cenovus Energy Inc. Foster Creek

Cenovus Energy Inc. Christina Lake

SOU

RCE: ERC

B


S TAT I S T I C SSO

URC

E: ALBERTA

ENERG

Y RESOU

RCES C

ON

SERVA

TION

BOA

RD

Bitumen Synthetic Plant Operations: Oilsands Bitumen Synthetic Plant Operations: External Energy

SOU

RCE: A

LBERTA EN

ERGY RESO

URC

ES CO

NSERV

ATIO

N BO

ARD

AUGUST 2012 SEPTEMBER 2012

Gas (103 m3)

Electric (Mwh)

Gas (103 m3)

Electric (Mwh)

AlbianSands

purchased 74,608.0 47.0 74,747.3 1,391.0

generated 0.0 121,320.0 0.0 110,064.0

CNRLHorizon

purchased 59,073.4 4,650.9 60,615.3 1,564.0

generated 0.0 72,863.0 0.0 73,832.0

Imperial Oil(Kearl Mine)

purchased -- 888.0 -- 2,950.0

generated -- 0.0 -- 0.0

OPTI(nexen)

purchased 7,375.2 43,485.3 3,612.3 7,215.3

generated 0.0 78.4 0.0 78.4

Shelljackpine

purchased 24,145.0 29,721.0 21,738.3 23,957.0

generated 0.0 0.0 0.0 0.0

ShellScotford

purchased 160,567.3 6,278.5 162,671.3 27,635.1

generated 0.0 89,127.4 0.0 90,125.4

Suncorpurchased 109,012.0 89,846.0 106,387.0 116,039.0

generated 0.0 218,392.0 0.0 234,094.0

Syncrude(aurora)

purchased 33,032.0 0.0 35,355.1 0.0

generated 0.0 59,260.9 0.0 59,138.9

Syncrude(Mildred lake)

purchased 162,055.7 30,775.1 166,080.1 35,481.3

generated 0.0 195,480.0 0.0 178,878.6

WilliamsEnergy

purchased 921.9 2,573.9 797.7 2,410.4

generated 0.0 0.0 0.0 0.0

Alberta Crude Bitumen Production (non-primary)

Commercial in situ schemes production rates per calendar day (bbls/d), listed in descending order of production for last month of data set

SOU

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LBERTA EN

ERGY RESO

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ATIO

N BO

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Operator Project july 2012 August 2012 September 2012 Three-Month Average

Imperial Oil Limited Cold lake 153,769.5 150,573.0 148,508.7 150,950.43

Cenovus Energy Inc. foster Creek 127,433.5 125,968.6 124,213.1 125,871.69

Canadian Natural Resources Limited Primrose/wolf lake 90,924.2 93,110.6 116,455.8 100,163.56

Suncor Energy Inc. firebag 104,945.5 117,657.8 114,970.2 112,524.51

Cenovus Energy Inc. Christina lake 58,100.2 62,693.1 71,266.1 64,019.79

Devon Canada Corporation Jackfish 55,007.5 53,206.8 29,385.4 45,866.56

ConocoPhillips Canada Limited surmont 21,077.2 22,734.5 26,398.3 23,403.34

Statoil Canada Ltd. leismer 16,267.3 16,959.8 16,469.9 16,565.68

Nexen Inc. long lake 33,751.8 15,461.6 14,639.5 21,284.30

Connacher Oil and Gas Limited great divide 5,330.6 5,253.2 10,698.3 7,094.07

MEG Energy Corp. Christina lake 31,211.9 30,242.7 9,910.9 23,788.48

Husky Energy Inc. tucker 9,464.3 9,424.7 9,646.7 9,511.87

Shell Canada Limited Peace River 4,559.5 7,867.9 7,568.5 6,665.31

Shell Canada Limited Hilda lake/orion 2,518.4 3,697.8 4,547.5 3,587.92

japan Canada Oil Sands Limited Hangingstone 5,825.0 4,743.1 4,534.3 5,034.15

Pengrowth Energy Corporation lindbergh pilot 1,239.1 1,191.3 1,400.7 1,277.04

Baytex Energy Corp. Cliffdale pilot 402.5 277.4 493.1 391.0

ConocoPhillips Canada Limited surmont pilot 488.7 530.2 406.3 475.09

Suncor Energy Inc. MacKay River 31,747.2 18,427.3 308.2 16,827.55

BlackPearl Resources Blackrod 305.7 339.0 282.4 309.0

Penn West Petroleum Limited seal Main pilot 452.9 367.3 281.8 367.32

Cenovus Energy Inc. grand Rapids pilot 213.2 150.3 182.4 181.99

Southern Pacific Resource Corp. stP-McKay --- 55.4 53.5 36.29

Baytex Energy Corp. Harmon Valley pilot 15.7 34.0 38.4 29.4

E-T Energy Ltd. Poplar Creek 5.0 8.2 8.8 7.34

Connacher Oil and Gas Limited algar 5,830.7 6,376.0 --- 4,068.88

Murphy Oil Company Ltd. seal/Cadotte pilot 27.7 6.3 --- 11.32

TOTAL 760,914.9 747,357.9 712,668.9 740,313.89

AUGUST 2012 SEPTEMBER 2012

Barrels Grade* Barrels Grade*

Albian Sands

mined 62,000,958.9 11.14% 58,249,113.1 11.08%

processed 48,683,470.4 10.69% 51,120,402.2 10.69%

CNRL Horizon

mined 46,027,855.4 11.56% 38,176,216.0 11.31%

processed 46,147,891.5 11.36% 38,584,995.4 11.08%

jackpine Mine

mined 32,289,764.2 11.95% 27,621,844.2 12.19%

processed 36,252,889.9 11.66% 28,995,434.9 11.36%

Suncor

mined 111,724,996.2 11.20% 86,069,277.8 11.10%

processed 111,724,996.2 11.20% 86,069,277.8 11.10%

Syncrude (Aurora)

mined 74,880,106.1 11.21% 65,518,171.5 11.01%

processed 74,880,106.1 11.21% 65,518,171.5 11.01%

Syncrude (Mildred Lake)

mined 62,078,870.2 10.43% 57,536,568.2 11.27%

processed 63,782,698.7 10.41% 63,175,100.3 11.11%

* Grade is a measurement of mass per cent bitumen in oilsands.

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oilsands review project status february 2013

Documents

operating phase

tbd approved phase

construction phase

application phase

operating millennium

tbd approved tranche

operating steepbank

operating stage