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In 1980, a plant in Cold Lake was one of just two oil sands plants under construction in Alberta. [4] Although not developed as quickly and extensively as originally envisioned, an Imperial Oil plant in Cold Lake became the largest in situ oil sands project constructed in Alberta during the 1980s. By 1991, its daily oil production was 90,000 ...
The largest single plant in Canada to use in situ production is Imperial Oil's Cold Lake oil sand plant. This plant uses a technique called cyclic steam injection. Using this method, the company pumps high-pressure steam into a section of the underground reservoir for a week or so, then pumps the liquid oil out for as long as several months.
At 1,530 metres (5,020 ft), drilling sped up and the first bit samples showed free oil in dolomite, a good reservoir rock. After coring, oil flowed to the surface during a drill stem test at 1,544 metres (5,066 ft). Imperial Oil decided to bring the well in with some fanfare at 10 o'clock in the morning of February 13, 1947.
The Athabasca oil sands is the only large oil field in the world suitable for surface mining, while the Cold Lake oil sands and the Peace River oil sands must be produced by drilling. [14] With the advancement of extraction methods, bitumen and economical synthetic crude are produced at costs nearing that of conventional crude.
Imperial Oil Limited (French: Compagnie Pétrolière Impériale Ltée) is a Canadian petroleum company. [2] It is Canada's second-largest integrated oil company. It is majority-owned by American oil company ExxonMobil, with a 69.6% ownership stake in the company. [5]
In the mid-1960s, there were only two fractionation facilities in Alberta. One was a plant at Devon, Alberta, and owned by Imperial Oil. That plant processed liquids from Leduc, Redwater and other Imperial-operated fields. Later, it also processed liquids from Swan Hills, a wet gas field which was operated by other companies. Also, in 1964 ...
By December 1985, OPEC oil output had reached 18 million barrels (2,900,000 m 3) per day. This worsened an existing glut of oil and triggered a price war. In the following year, average world oil prices fell by more than 50 per cent. This price shock took many oil companies and oil-producing states and regions into a long period of crisis.
Imperial Oil, 1950 The Wabamun Formation is a stratigraphic unit of Late Devonian ( Famennian ) age in the Western Canada Sedimentary Basin . [ 2 ] It takes the name from Wabamun Lake and was first described in the Anglo Canadian Wabamun Lake No. 1 well (located between the Wabamun Lake and the North Saskatchewan River ) by Imperial Oil in 1950.