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Asad Moten

Canada remained the largest exporter of total petroleum in May, exporting 2.265 million barrels per day to the United States, which is a decrease from last month (2.534 thousand barrels per day). The second largest exporter of total petroleum was Saudi Arabia with 1.604 million barrels per day.

Steam—Assisted Gravity Drainage (SAGD) At what oil price range are oil sands operations economic?

Integrated mining and SAGD (Steam Assisted Gravity Drainage) operations are estimated to be economic at US$30 to $35 per barrel WTI.

development of Steam Assisted Gravity Drainage (SAGD), an emerging technology that many companies are researching, field testing and planning to use for commercial scale development in the oil sands region of western Canada. SAGD is a simple technology in concept but complex in application: a well injects steam into the producing zone, creating a high-temperature steam chamber in the formation. The heat melts the thick crude which allows gravity to assist it to flow freely to the horizontal production well below. SAGD is a key technology that will be how most in-situ production is done in the years to come. Pairs of horizontal wells are drilled one above the other into the oil sands formation, and steam is injected into the upper well. The steam heats the oil sand and it softens and drains into the lower well, where it naturally flows to the surface.