.png)
Image: Joey Podlubny/JWN Oilsands powerhouse Canadian Natural Resources Limited is offering some early-stage details on its plans for two new assets in acquired during the third quarter. The company realized a first for a Canadian company last year, reaching one million boe/d following its $12.74-billion oilsands acquisition from Shell and Marathon Oil. This year it’s been buying again, and although its most recent purchases have no current production, the company says they offer significant future potential for its shareholders. Laricina Energy In September, Canadian Natural closed its acquisition of oilsands junior Laricina Energy, which at one point operated an early-stage 5,000 bbl/d capacity SAGD project as well as a bitumen carbonates pilot, both near Wabasca, Alta. The value of the purchase was not disclosed. Laricina’s Saleski carbonate pilot ran from 2010 to 2015, and its Germain SAGD project from 2013 to 2015. Both are in close proximity to Canadian Natural’s Pelican Lake heavy oil enhanced recovery project, which is part of what the company refers to as its Grand Rapids assets. Canadian Natural significantly expanded that position when it bought Cenovus Energy’s Pelican Lake properties in September 2017 for $975 million. It says the Laricina buy is a great […]
