Early in the 2000s the successful commercialization of steam-assist gravity drainage unlocked the majority of the oil sands reserves known today. This new technological innovation when coupled with higher oil prices and a mentality that the world was running out of oil, led to a boom in the Canadian oil sands. However, the same sort of ingenuity that gave birth to the modern oil sands also gave rise to horizontal multistage fracking and a tsunami of supply from the United States. This contributed to a large-scale correction that began in late 2014, but continues to shape the future of oil supply, demand and geopolitics. For the Canadian oil sands, the boom that preceded the price collapse contributed to many of the reputational challenges the industry faces today. But much has changed. This presentation will document the current state of the Canadian oil sands, what has changed, why, how much, and the challenges that remain.
For more information about this event, please visit: www.choa.ab.ca/events/EventDetails.aspx?id=1252821&group