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Thermal Lifts Saskatchewan Heavy Oil Output; EOR Brightens Cold Heavy Oil Outlook

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While investment in new Alberta oilsands megaprojects has stalled, heavy oil activity in Saskatchewan is proceeding apace, albeit on a much smaller scale.

Saskatchewan’s total thermal oil production, for example, is roughly 100,000 bbls a day. In the Alberta oilsands, a single project can be that size.

But size increases capital risk. And at a time of oil price uncertainty and political/regulatory uncertainty, megaprojects are riskier because of long lead times and multibillion-dollar price tags.


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