On September 5, 2017, we announced an agreement to sell our Greater Pelican Lake assets in northern Alberta, which includes our Pelican Lake heavy oil operation and our emerging Grand Rapids oil sands property. The sale is expected to close on or before September 30, 2017, subject to normal closing conditions. Read the news release for complete details.
Our Grand Rapids property is located in the Greater Pelican Region, about 300 kilometres north of Edmonton, Alberta. It’s adjacent to our Pelican Lake heavy oil operation and existing facilities. The oil at Grand Rapids sits about 240 metres below the surface – so deep that we have to use a technology called steam-assisted gravity drainage (SAGD) to drill and pump the oil to the surface.
We conducted a three-well pair SAGD pilot at Grand Rapids. The first pilot well pair was completed in December 2010, the second in 2012 and the third pilot well pair drilled and completed in early 2015.