Grizzly to buy, develop oil sands acreage

摘要

Grizzly Oil Sands UIC has agreed to buy Petrobank Energy & Resources Ltd.'s May River oil sands acreage in northern Alberta and plans to develop it with modular steam-assisted gravity drainage technology. The 46,720-acre area includes a demonstration project for Petrobank's proprietary THAI thermal in situ production technology, which the company said it is bringing to commercial use elsewhere in Alberta (OGJ Online, Nov. 21, 2008).