Project Profile
Value: US$520 Million
Location: 90 km northwest of La Loche, Saskatchewan, Canada
Production: 30,000 bpd of bitumen
Startup Year: 4th quarter of 2014
Oilsands Quest Sask Inc.\'s proposed Axe Lake Oil Sands Project will use steam-assisted gravity drainage (SAGD) as the in situ thermal recovery method to produce approximately 30,000 bpd of bitumen approximately 90 km northwest of La Loche, Saskatchewan. The project will consist of a central processing facility, well pads, water source and disposal wells, pipelines, roads, an air strip, camp facilities and other auxiliary work. The bitumen will be processed and diluent added onsite for transportation to a second party for upgrading. Estimated value is US$375-520M
The Axe Lake discovery is located in the north half of Township 94 and the south half of Township 95. Management\'s OBIP (original bitumen in place) estimate of the Axe Lake Discovery to date is 1.4 billion to 1.5 billion barrels OBIP (High Estimate - P10), which includes 0.60 billion to 0.75 billion barrels OBIP (Best Estimate - P50). The proposed project includes components typical of SAGD operations such as multi-well production pads of horizontal well pairs, and a central processing and bitumen treatment facility.
Operator:
Oilsands Quest Inc.: Operator with 100% interest