Connacher Oil and Gas Limited is a Calgary-based exploration, development and production company active in the production and sale of bitumen. Connacher’s shares trade on the TSX under the symbol CLL.
Our principal asset is a 100 percent interest in approximately 500 million barrels of proved and probable bitumen reserves located on the company's Great Divide oil sands leases near Fort McMurray, Alberta. The company’s first notional 10,000 bbl/d steam-assisted gravity drainage (“SAGD”) oil sands project at Great Divide, Pod One, commenced commercial production in March 2008, just four short years from our first purchase of lands in the region. Algar, the company's second notional 10,000 bbl/d SAGD oil sands project at Great Divide was completed in April 2010, ahead of schedule and under budget, with commerciality achieved effective October 1, 2010. In September 2012, Connacher received approval from the Energy Resources Conservation Board for the development of its 24,000 bbl/d Great Divide Expansion Project.Refer to forward-looking information disclaimer.
In pursuing our objective of maximizing shareholder value, Connacher secures large, operated working interests, where possible. An opportunistic approach, supported by timely decisions, reflects management’s experience and aggressive growth strategy to realize corporate objectives.