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Operating Activities

Since the formation of Harvest in 2002, we have followed our value principles and successfully assembled a unique suite of assets that would be very difficult, if not impossible, to replicate today. Further, we have structured our organization to benefit from vertical integration, and as a result, have a unique inventory of future internal development opportunities across the energy spectrum in which we can invest to generate attractive rates of return. Harvest is well positioned to benefit from exposure to exploration and production activities, including significant enhanced oil recovery potential, and crude oil refining, product marketing and sales.

Upstream Business Segment – Western Canada

Upstream Highlights

  • ~131, 394 net acres undeveloped land with 1,900+ future drilling locations identified
  • Oil weighted asset base with significant original-oil-in-place (OOIP) and low recoveries to date
  • 2 billion+ boe of estimated OOIP on conventional land with 1 billion+ boe of incremental OOIP estimated on 42,000 net acres of oil sands land
  • Numerous large OOIP pools amenable to enhanced oil recovery schemes such as enhanced waterfloods, polymer, and CO2 flooding
  • Year end 2012 reserves of 494.0 mmboe P+P & 252.5 mmboe TP
  • Production derived 55% from Alberta Crown, 20% Alberta freehold, 15% Saskatchewan & 10% B.C.
 

Downstream Business Segment – Newfoundland

Refinery Highlights:

  • 115,000 bbl/d medium sour hydrocracking refinery
  • Gasolines & distillates meet highest specifications
  • Safe, responsible and reliable track record
  • Strategically located on major shipping lanes
  • Long life asset with low CAPEX requirements
  • Extensive branded and unbranded channels
  • Opportunities for value enhancing projects