The BlackGold Oil Sands Project is located approximately 10 km southeast of Conklin, Alberta. Acquired from Korea National Oil Corporation (KNOC) in 2010, construction and development of the project began later that year. The BlackGold assets contain 259 mmboe of Proved plus Probable reserves and are located in close proximity to a number of major oil sands developments in the Conklin Region of Northeastern Alberta.
Phase 1 of the project (the Initial Project) is anticipated to produce 10,000 bpd with first oil expected in 2014. Approval for BlackGold’s first phase has already been granted by the Energy Resources Conservation Board (ERCB) and Alberta Environment (AENV). BlackGold’s second phase (the Expansion Project), which is still awaiting regulatory approval, is targeted to increase production to 30,000 bpd. The BlackGold Project is expected to produce over a period of approximately 25 years.
BlackGold will utilize Steam Assisted Gravity Drainage (SAGD), a proven institu production technology that uses horizontal drilling and thermal stimulation to maximize energy and production efficiency and minimize surface land disturbance.
Harvest Operations Corp. maintains 100% working interest and operatorship of the BlackGold project.
Inquiries related to BlackGold can be directed to:
Phone: (403) 718-7076