Canada- Northern Assets
Onion Lake Thermal, Saskatchewan
Acquired by IPC in 2019, Onion Lake Thermal is a conventional heavy oil property located in the Lloydminster area in Saskatchewan. The Onion Lake property is made up of a 14,000 boepd heavy oil thermal project with a reserve life of over 20 years.
Oil is produced from the Onion Lake Thermal asset utilising a modified SAGD (steam-assisted-gravity-drainage) technique, steam is injected in the direction of the reservoir in a matrix type formation generating steam heat chambers around the horizontal sections of strategically placed production wells, maximising steam oil ratio efficiency, production rates and ultimate recovery. The production is collected in a common pipeline system and routed to one of two central (Phase 1 & Phase 2) processing facilities. In early 2019, a steam optimisation project was completed at the Phase 1 processing facility lifting Onion Lake Thermal name-plate capacity to 14,000 boepd. An additional production pad is to be drilled through 2020, driving production rates up towards capacity levels.
IPC is operator of the Onion Lake Thermal asset holding 100% working interest.
Canada Northern Conventional and EOR (Other)
In addition, IPC produces 2,500 boepd of conventional heavy oil from our assets at Onion Lake Primary, Mooney (EOR), John Lake and Graindale.
Blackrod, Alberta
Regulatory approval has been received for an 80,000 boepd SAGD (steam-assisted-gravity-drainage) oil sands project at Blackrod. The delineated resource contains over 600 million boe of best estimate contingent resource which represents over a 20 year reserve life index at 80,000 boepd. For the last 5 years, a SAGD pilot at Blackrod has been operated, which has validated both commercial production rates and a corresponding steam oil ratio.
