Grizzly Oil Sands LLC has submitted a resource application to the Alberta Energy Resources Conservation Board to develop an oil sands project that will yield 12,000 barrels of oil a day for up to 40 years. Grizzly's Thickwood project would include a plant site and associated facilities with four well pads for up to 33 wells for use in steam-assisted gravity drainage of bitumen, the solid form of oil found in the area. The company expects its application to be approved in the next 12 months to 18 months, with the first production coming about 18 months later. Oklahoma City-based Gulfport Energy Corp. owns about 25 percent of Grizzly.
TLP Energy sells for $655M
The assets of Oklahoma City-based oil and natural gas company TLP Energy has been sold for about $655 million, according to the private equity firm that funded its formation last year. NFR Energy will acquire TLP upstream and midstream assets, including about 64,000 net acres of leasehold in Oklahoma and the Texas Panhandle. TLP was founded by CEO David Le Norman in August 2011 with funding from Trilantic Capital Partners.
From Staff Reports
The 8 Best Natural Gas Stocks. Find Out How to Invest.