Connacher is focused on growth in Alberta’s oil sands. Connacher owns approximately 500 million barrels of proved and probable bitumen reserves located on the company's Great Divide oil sand leases near Ft. McMurray, Alberta. Connacher's first two in-situ oil sands projects, Pod One and Algar, located on our main Great Divide lease block, are producing. Connacher’s strategy is to build repeatable, expandable and sustainable projects on its lands.
The term in-situ refers to the process whereby bitumen is separated from the sands while still underground in the oil sands original location. This stands in contrast to oil sands mining operations, where the separation takes place after the oil sands are moved from their original location.
Due to a high quality oil sands reservoir with critical cap rock spread over the area, Connacher is able to utilize the proven technology of steam-assisted gravity drainage (SAGD) for its projects to date. SAGD is demonstrated in the diagram below.
Steam-Assisted Gravity Drainage (SAGD)