QUOTE AND NEWS
Reuters  Aug 4  Comment 
State oil giant PetroChina plans to pay the more than $1 billion it needs to complete a takeover of the Dover oil sands project from Canadian firm Athabasca Oil Corp by...
The Globe and Mail  May 23  Comment 
Company says discussions to sell part of 20-per-cent interest in project haven’t resulted in a deal
OilVoice  Oct 15  Comment 
Oil and Natural Gas Corp ONGC plans to approach Marathon Oil about buying half of its 20 stake in the Athabasca Oil Sands project in Canada according to two sources with knowledge of the matter.
StreetInsider.com  Oct 9  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Shell+%28RDS-A%29+Taps+Fluor+%28FLR%29+for+Athabasca+Oil+Sands+Carbon+Capture+Facility/7779253.html for the full story.
OilVoice  Aug 21  Comment 
Shell as operator of the Athabasca Oil Sands Project AOSP today announced that its oil sands operations have achieved the production milestone of 500 million barrels since production began in 2003
OilVoice  Apr 27  Comment 
Athabasca Oil Sands Corp. TSX ATH reported first quarter 2012 operational results. Highlights include Closed the sale of its 40 interest in the MacKay River project for gross proceeds of 680
The Globe and Mail  Mar 23  Comment 
Even as the first plant opened in Fort McMurray in 1967, there was a sense of history in the making
OilVoice  Feb 7  Comment 
The company recently drilled and completed its first Montney horizontal well in the Kaybob East area located at 13226418W5. The 1220 metre lateral was fracture stimulated with 14 stages of energi
The Globe and Mail  Jan 6  Comment 
Stock price continues to flounder, MacKay stake was sold
Wall Street Journal  Jan 3  Comment 
Athabasca Oil Sands said it was selling a 40% stake in one of its oil-sands prospects to PetroChina for $666 million, a move that for the first time will give full ownership of such a project to a Chinese company.




 
TOP CONTRIBUTORS

Introduction

Athabasca Oil Sands is a producer of bitumen from the oil sands in the Athabasca region of northeastern Alberta. They are one of the largest bitumen lease holders in the region with a production potential of 500,000 to 800,000 barrels per day.[1]

Business Growth

Athabasca Oil Sands fuels its growth through strategic acquisitions of oil sands resources. Improving technology and rising prices make projects that were once considered infeasible profitable.

Trends & Forces

Steep opposition from environmental groups threaten viability of Oil Sands Project

Oil sands have been long attacked by environmentalists claiming that their mining accounts for 6.5% of Canada’s greenhouse gas emissions. The energy-intensive mining process releases vast volumes of carbon dioxide and sulphur dioxide into the atmosphere. Although environmental groups have attacked oil sands, Canada’s federal government seems to support the industry. They left oil sands information out of their environmental report and are looking to hire a PR firm to boost the image of the industry.

Improving technology and rising prices increase the profitability of oil sands

Increasing price of oil and natural gas, as well as the US insistence on weaning off Middle Eastern supply, is leading to a steep increase in demand for oil sands. Following demand, supply is also increasing as new technology allows oil companies to drill cheaply. With oil prices high, for example, Shell released in its annual report that its Canadian oil sands unit made an after tax profit of $21.75/barrel, double its worldwide profit of $12.51 per barrel on conventional crude oil.

Competition

Due to increasing prices and improving technology, projects that were not feasible are now profitable, increasing the number of competitors in the industry.

  • Tailsman Energy is a global diversified upstream oil and gas company focused on North America, the North Sea, and Southwest Asia.


References

  1. Athabasca Oil Sands Corp. "Resources and Projects"

References

  1. Athabasca Oil Sands Corp. "Resources and Projects"
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