Join to Connect ... Weyburn is the world's first commercial project that utilizes a waste CO2 stream for Enhance Oil Recovery. Both these teams raised 250 pounds for the Weyburn Salvation Army. This development injects carbon dioxide safely and responsibly deep underground to increase oil production from one of Canada’s largest crude oil reservoirs. In addition, the Weyburn Unit is a hugely successful carbon capture, utilization and storage project. Injecting CO2 into deep, underground rock formations safely stores the carbon. These studies have determined that there is little to no release of CO2 from the field. Whitecap Resources' carbon dioxide miscible flood operation is a “significant green story," says the company's operations superintendent. The Weyburn property is the largest Carbon Capture & Utilization Storage “CCUS” project in the world which underpins why Whitecap has one of the lowest emissions intensities in the world along with our commitment to continue to emphasize environmental sustainability as a core value. CALGARY, AB, Jan. 4, 2021 /CNW/ - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has successfully completed the … Whitecap Resources Inc. By John Tilak and David French. Whitecap described the Weyburn Unit as a world class carbon dioxide enhanced oil recovery development with a low base decline rate of less than 5 per cent, high operating netback of $31.86/boe, and significant short and long term development and expansion opportunities. Announces Closing of NAL Resources, Strong Finish to 2020 and Robust First Quarter Drilling Program PRESS RELEASE PR Newswire Jan. 4, 2021, 09:04 PM Whitecap is the operator of the Weyburn Unit, one of the largest carbon capture and utilization storage projects in the world, currently sequestering more than two million tonnes of CO2 annually and providing the company with its net negative … Significant expansion opportunities remain to expand the Weyburn CO2 flood and further mitigate a low 3-5% base decline rate in conjunction with a very low maintenance capital requirement. WHY DID WHITECAP PURCHASE A MAJOR STAKE IN WEYBURN. Whitecap Resources primarily produces light, sweet crude oil, as opposed to heavy oil or natural gas. Reviews (306) 848-6100 Website. The latest stock analyst recommendation is . It is usually referred to as TSX:WCP or WCP-T Is Whitecap Resources a buy or a sell? … -12°C in Maple Creek Sign Up / Login ... Caprice Resources Ltd (306) 848-0550. 4 analysts recommended to SELL the stock. This exceeds our company's total GHG emissions (direct and indirect). Waterflood operations commenced in the 1960’s with a world class CO2 enhanced oil recovery "EOR" development commencing in 2000. Through its investment, Whitecap Resources joins title sponsor Weyburn Credit Union and play centre sponsor MNP. In November 2017, Whitecap purchased a 62% interest in the Weyburn oil project in Saskatchewan for $940 million from Cenovus Energy. This results in incremental oil production that could not be achieved with conventional means. We inject CO2 to maximize well performance, keeping a small footprint and safely storing greenhouse gas (GHG) emissions underground. This field has benefitted from a number of innovative developments — including the start of CO2 enhanced oil recovery in 2000. Without the Weyburn Unit, the majority of CO2 would otherwise be released to the atmosphere. There will be a Kettle Campaign day at Walmart on Saturday, Dec. 19. Weyburn, to be sold to Whitecap Resources Inc (WCP.TO), is the last of four main assets for which Cenovus has reached agreements to sell to pay down debt incurred in the $16.8 billion acquisition of ConocoPhillips (COP.N) assets this year. Order Online Tickets Tickets See Availability Directions {{::location.tagLine.value.text}} Sponsored Topics. As the oil is pumped to the surface, injected CO2 is collected, compressed and reinjected underground to a depth of 1.5 kilometres. This internationally recognized, world class project has safely captured over 34 million tonnes of CO2. That company is Whitecap Resources, the current majority owner and operator of the Weyburn Unit. It generally focuses on oil development and production instead of exploration. Indeed, he had just been to Regina to talk to government ministers about that exact issue. In the last year, 14 stock analysts published opinions about WCP-T. 7 analysts recommended to BUY the stock. That company is Whitecap Resources, the current majority owner and operator of the Weyburn Unit. The Weyburn-Midale Carbon Dioxide Project (or IEA GHG Weyburn ... (formerly operated by Cenovus Energy of Calgary before its Saskatchewan operations were sold to Whitecap Resources in 2017), and after the year 2005 from the adjacent Midale field (operated by Apache Canada). Brooks, Alberta. in added value to the provincial economy since CO2 enhanced oil recovery began in 2000.*. To date, Weyburn has safely sequestered more than 31 million tonnes of CO2. It is also the operator of the Weyburn Unit, a carbon capture … Report summary. Since it was discovered in the 1950s, the Weyburn field has been one of Canada’s largest crude oil reservoirs (original oil in place is estimated to be 1.5 billion barrels). The buyer was Whitecap Resources, which is a natural fit for these assets. CALGARY, AB – Whitecap Resources Inc. ... Whitecap is the operator of the Weyburn Unit, one of the largest carbon capture and utilization storage projects in the world, currently sequestering more than 2 million tonnes of CO 2 annually and providing the Company with its net negative emitter status. This translates into less capital requirements to sustain production rates. It’s a multi-stage process that involves capturing and compressing CO2 and injecting it deep into oil and natural gas geological formations to generate higher recovery rates than would be achieved otherwise. Whitecap Resources Inc. For there to be a future, there has to be a willing buyer of the additional captured CO 2, beyond what is captured at Boundary Dam Unit 3.Who would that buyer be? Submitted by Salvation Army Weyburn. “We are proud to have another well-known business in our community come forward with support for our new recreation and cultural centre,” said Andrew Crowe, the Director of Leisure Services with the City of Weyburn. WEYBURN – The City of Weyburn has approved an additional sponsorship for the new Credit Union Spark Centre. Whitecap has sponsored one of the rooms with access to both facilities. Whitecap Resources Inc. is interested, CEO Grant Fagerheim told Pipeline News on September 19. Construction Coordinator at Whitecap Resources Inc. Weyburn, Saskatchewan, Canada 500+ connections. 3Xthe height of the CN Tower in Toronto, Canada. Weyburn 5 year in Weyburn Unit Plant 7 years in Field operations -Weyburn unit 700 wells 10 years Optimization - rod pump design, ESPs , SCADA, XsPoc 5 years Well Servicing For the first time in its 63-year history, Saskatchewan's Weyburn Unit will have an entirely new operator, with the $940 million sale of Cenovus Energy’s 62.1 percent operating interest in the field to Whitecap Resources Ltd. Here’s what Whitecap CEO Grant Fagerheim had to say about the company’s plans to Pipeline News. Project Timeline Whitecap's world class expertise in CO2 EOR and sequestration provides the foundation to continue to drive down Whitecap's GHG emissions intensity. Light Oil Resource Base Since inception in September 2009, Whitecap has aggregated a significant light oil resource base which provides a solid foundation for continued growth and results on a per share … More on the Whitecap Resources dressing room here. At the surface, oil and natural gas liquid are extracted for sale. Geological Overview 3 Midale Reservoir Marly Vuggy Average Net … Whitecap Resources buys Cenovus' Weyburn unit. Whitecap Resources’ partnership with the City of Weyburn is a natural fit with the oil company’s investment policy which focuses on supporting community health and education for children. Injecting CO2 deep underground safely stores carbon. The deal was expected to increase Whitecap's oil production by 25%. | Whitecap Resources Inc. is a clean Canadian energy company. CO2 enhanced oil recovery at Weyburn has generated 104 million barrels of incremental production to date, adding value from the resource. The Weyburn Unit is currently the sole purchaser of the CO 2 coming out of the Boundary Dam Unit 3 Integrated Carbon Capture and Storage Project, at the other end of a 71-kilometre pipeline. Learn More about CO2 Sequestration at our Weyburn Property. Whitecap Resources donation. The CO2 produced during oil recovery is returned to the reservoir so that all injected CO2 is permanently stored deep underground.  Whitecap Resources acquired operatorship of the Weyburn Unit in 2018 Strong commitment to new Unit EOR investment New EOR Rollouts Flood Optimization Expanded NGL capture Continue to investigate new CO2 EOR opportunities in Western Canada and the US, leveraging Whitecap is the operator of the Weyburn Unit, with 62 per cent ownership. The CO2 produced during the recovery is returned to the reservoir so that all injected CO2 is permanently stored deep underground. MRO 72/20 Whitecap Resources Inc. Weyburn Midale Beds Pool Carbon Dioxide Flood Project Modification 150723 Weyburn Unit MRO 71/20 Crescent Point Energy Corp. Viewfield Bakken Waterflood Expansion Sections N/2-2, 3, 4, 5, E/2-6, 10, 11, 12, N/23, 26, 35-8-7W2 151558 April 9, 2020 IRIS Authorization # Company Pool or Area Application Type Location MRO 74/20 Tamarack Acquisition … We purchase CO2 from the coal-fired Boundary Dam Power Station in Estevan, Saskatchewan, and a coal gasification project in North Dakota. Whitecap Resources acquires Weyburn unit from Cenovus for Cdn$940 million. Safety. Get directions, reviews and information for Whitecap Resources in Weyburn, SK. The operation also benefits the environment, has sustained generations of families with jobs and contributes to the Saskatchewan economy, all the while providing value to shareholders. This will ensure responsible resource development that continues to provide value to shareholders and the Saskatchewan economy while storing CO2 that would otherwise have been emitted. Legal . Darcy Cretin shared an update on how the oil company’s plant operations are going in a Zoom meeting with Weyburn Rotary Club members this week. The deal is for ten years, with Whitecap making a contribution of $20,000. Without the Weyburn Unit, the majority of CO2 would otherwise be released to the atmosphere. (Adds details about Weyburn and Cenovus' asset sale plan, share action) With a low base decline rate of 3-5%, Weyburn Unit provides steady energy production over time. Whitecap Resources Inc. secured the naming rights for one of eight dressing rooms in the recreation and cultural facility for a 10 year term through a financial contribution of $20,000. Menu & Reservations Make Reservations . Weyburn C02 flood Unit Cenovus ... Cenovus Energy Sep 1988 - Present 32 years 2 months. At Whitecap Resources, we’re proud to be the operator and majority owner of the Weyburn Unit in southeast Saskatchewan. 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