Q. Where are Southern Pacific's oil sands leases and how many sections are there
Alberta: 232 sections (188 net) of oil sands leases with 89% average working interest
Saskatchewan: 3 sections of heavy oil leases with 100% working interest
Q. What is Southern Pacific's production rate?
Total Company production, which includes bitumen production from STP-McKay Phase 1 and heavy oil from STP-Senlac, averaged 3,372 barrels per day for the three months ended September 30, 2014.
Q. Who are Southern Pacific's reserves engineers?
GLJ Petroleum Consultants of Calgary.
Q. What is Southern Pacific's environmental footprint?
Southern Pacific is committed to sustainable development. Underground water sources and high recycle (95%) have been designed for the STP-McKay project, including a zero liquid discharge water system with no effluent to surroundings or tailings ponds. Cogeneration (or COGEN), the use of a heat engine or a power station to simultaneously generate both electricity and useful heat and is one of the most common forms of energy recycling and will also reduce greenhouse gas emissions.
As a CAPP member, Southern Pacific will participate in stringent stewardship reporting guidelines. The company does not mine for oil sands; in-situ projects have similar footprints to conventional oil projects.
Q. What is the company's corporate growth plan?
Southern Pacific is positioned for growth from both heavy oil at STP-Senlac in Saskatchewan and bitumen at STP-McKay in Alberta.
- STP has received regulatory approval to proceed with up to 12 infill well pairs at STP-McKay.
- On January 20, 2015 STP filed for Creditor Protection Under the CCAA.
- All growth plans are on holding pending the outcome of the CCAA process.
