There are five large oil sands mining operators. Grizzly's Chief Executive Officer, John Pearce, commented, "The May River property adds substantially to the magnitude and quality of Grizzly's existing portfolio of projects which, upon completion of the transaction, will include approximately 800,000 net acres of oil sands leases and nearly 3 billion barrels of reserves and resources. Grizzly Energy is a US onshore energy company. © 2013 Grizzly Oil sands ULC. Grizzly's Chief Executive Officer, John Pearce, commented, "The May River property adds substantially to the magnitude and quality of Grizzly's existing portfolio of projects which, upon completion of the transaction, will include approximately 800,000 net acres of oil sands leases and nearly 3 billion barrels of reserves and resources. Grizzly is a growing oil sands development company led by a management team with decades of oil and gas experience. Owners At The Same Street Address. That production would then increase to 80,000 barrels per day. PitchBook’s comparison feature gives you a side-by-side look at key metrics for similar companies. Company Profile News Releases Presentations Striving to maximize resource recovery and returns for the benefit of our stakeholders. Wexford founded Grizzly in 2006 and owns 75 percent. All rights reserved. All content is posted anonymously by employees working at Grizzly Oil Sands. © 2013 Grizzly Oil sands ULC. Grizzly intends to grow in manageable increments to production of up to 150,000 barrels per day within 10 years and maintain additional growth potential thereafter. All rights reserved. Grizzly Oil Sands General Information Description. Wexford has a long track record of creating value by forming companies in the exploration and production, service and supply or midstream sectors of the energy industry. These statements are based on certain assumptions and analyses made by Gulfport and Grizzly in light of their experience and perception of historical trends, current conditions and expected future developments as well as other factors they believe are appropriate in the circumstances. © 2020 PitchBook Data. All Rights Reserved. President Serge Bisson of privately held Grizzly Oil Sands ULC says the company will now meet with its owners, Wexford Capital LP with 75 per cent and Gulfport Energy Corp. with 25 … Suncor (Total does have a 29.2% stake in the upcoming Fort Hills Mine), … Information concerning these and other factors can be found in the Company's filings with the Securities and Exchange Commission, including its Forms 10-K, 10-Q and 8-K. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and there can be no assurances that the actual results or developments anticipated by Gulfport and Grizzly will be realized, or even if realized, that they will have the expected consequences to or effects on Gulfport, its business or operations. December 2013 - Grizzly Oil Sands files regulatory application for May River SAGD project. Petrobank previously engaged McDaniel & Associates Consultants LTD. ("McDaniel") to prepare an independent reserve and resource evaluation of the May River property. Alberta Province has approved a new oil sands project costing more than $200 million by Grizzly Oil Sands ULC in northern Alberta, Kallanish Energy reports. Based in Calgary, Alberta, Grizzly is emphasizing operational excellence and capital efficiency through modular facility design, and will aim to maximize bitumen netbacks through oil-by-rail marketing. It was formerly part of Wexford’s portfolio. There is no certainty that it will be commercially viable for Grizzly to produce any portion of the Contingent Resources. Gulfport has no intention, and disclaims any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise. Copyright owned or licensed by Toronto Star Newspapers Limited. Grizzly's lease holdings cover approximately 520,000 acres and its 11,300 bpd Algar Lake project application is currently before the regulators. Grizzly's Advanced, Re-locatable, Modular and Standardized (ARMS) plant design was developed to improve capital efficiency, development schedule and operating metrics for its SAGD projects. This report by The Canadian Press was first published Dec. 5, 2019. However, whether actual results and developments will conform with Gulfport's and Grizzly's expectations and predictions is subject to a number of risks and uncertainties, general economic, market, credit or business conditions; the opportunities (or lack thereof) that may be presented to and pursued by Gulfport or Grizzly; competitive actions by other oil and gas companies; changes in laws or regulations; and other factors, many of which are beyond the control of Gulfport or Grizzly. Personalize which data points you want to see and create visualizations instantly. Operations. In addition to its investment in Grizzly, Gulfport has operating assets in southern Louisiana and the Utica Shale of Eastern Ohio, with first quarter 2014 production average of approximately 27,000 barrels per day. Grizzly is opportunity rich, with the Algar Lake project operational, and with May River and Cadotte projects in planning stages. He says he’s encouraged by a ceremony held this week near Edmonton to mark the start of pipeline construction for the Trans Mountain pipeline expansion. President Serge Bisson of privately held Grizzly Oil Sands ULC says the company will now meet with its owners, Wexford Capital LP with 75 per cent and Gulfport Energy Corp. with 25 … Operator and developer of oil sands projects based in Canada.The company through its steam-assisted gravity drainage mod, giat nulla pariatur. Wexford’s investments range from the Gulf of Mexico to the Utica shale play in Ohio to emerging international energy markets such as Thailand. President Serge Bisson of privately held Grizzly Oil Sands ULC says the company will now meet with its owners, Wexford Capital LP with 75 per cent and Gulfport Energy Corp. with 25 per cent, to discuss how to proceed with the May River project, which is estimated to cost more than $200 million to build. By Deborah Jaremko Sunday, February 1, 2015, 5 PM MST. Oil and Gas lease entities located at the same street address in Denver, Colorado as Grizzly Petroleum Co.. In a news release, Alberta Energy Minister Sonya Savage says the approval shows the province is “open for business.”. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deser, To view Grizzly Oil Sands’s complete competitors history, request access », To view Grizzly Oil Sands’s complete executive team members history, request access », To view Grizzly Oil Sands’s complete investments history, request access ». Grizzly Oil Sands ULC | 5,161 followers on LinkedIn | Grizzly is levering its diversified, 800,000-acre portfolio of more than 30 oil sands properties in the Athabasca, Peace River and Cold Lake regions of Alberta, Canada, as it moves into the project development and operations phases. Grizzly Oil Sands ULC is a full-cycle in situ oil sands project developer that is advancing the SAGD recovery model through facility design innovation and phased development centred on Grizzly’s unique ARMS concept. permissions/licensing, please go to: www.TorontoStarReprints.com. To order © 2013 Grizzly Oil sands ULC. This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). February 2015 - Download our Corporate presentation to find out about the latest operations and investment highlights. It is equally likely that the actual remaining quantities recovered will be greater or less than the sum of the estimated proved plus probable reserves. Grizzly is levering its diversified, 800,000-acre portfolio of more than 30 oil sands properties in the Athabasca, Peace River and Cold Lake regions of Alberta, Canada, as it moves into the project development and operations phases. On its website, Grizzly says the May River property was purchased in 2012 for $225 million and the regulatory application filed in December 2013. It should be noted that reserves and Contingent Resources involve different risks associated with achieving commerciality. (1) Probable reserves are defined in the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook") as those additional reserves that are less certain to be recovered than proved reserves. Together they have mining operations capable of producing over 1.5 million barrels of oil a day and have construction projects that may produce up to 285,000 barrels of oil a day. About Us Operations Investor Relations Sustainability Site Map Contact Us. It also requires federal approvals to proceed. To order copies of to colleagues, clients or customers, or inquire about The United Conservative government recently approved the 260,000-barrel-per-day, $20.6-billion Frontier oilsands mine proposed by Teck Resources Ltd. To explore Grizzly Oil Sands‘s full profile, request access. Grizzly Oil Sands ULC is a private company focused on the development of oil sands resources using steam assisted gravity drainage and a unique modular method for central plant construction. Republication or distribution of this content is Grizzly has delineated three key properties. John Pearce is doing something he probably never expected during his early days at Imperial Oil’s Cold Lake oilsands project. Listed on the NASDAQ (symbol: GPOR), Gulfport is a value-driven, growth-oriented exploration and development company with an enterprise value of approximately $5 billion. Grizzly Energy is a US onshore focused energy company anchored in the Rockies, Permian and Midcontinent. Wexford is an SEC-registered investment advisor with over $4 billion in assets under management as of Dec 31, 2013, including $2 billion in the energy and natural resources sectors. Grizzly Oil Sands finds the sweet spot with incorporation of crude-by-rail. Bisson says the approval has been a “long time in the making,” noting an application was filed six years ago with the Alberta Energy Regulator and the project was deemed complete about four years ago. Phase 1 of the Algar Lake project is ramping up production and Grizzly's May River and Thickwood  projects are in the regulatory approval process. After nearly 30 years in thermal heavy oil, he’s running a … Wexford has a longstanding interest in resource and service companies in Canada, the United States and Asia.

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