The Calgary-based mid-sized player wants to increase production at its Algar steam-assisted gravity drainage project in the Great Divide by an additional 24,000 barrels per day.
“The establishment of a joint venture will enable this project to be brought forward in a timely manner,” said the company. The Great Divide leases host about 320 million barrels of probable bitumen reserves plus 180 million barrels of proved reserves already associated with Connacher’s existing Pod One and Algar projects.
