Conventional heavy oil extraction in Lloydminster has only recovered about five to eight per cent of reserves in the area. That’s one of the takeaways from the recent Cenovus Energy investor update.
Another detail is that Lloyd diesel is delivered to 170 Cenovus commercial cardlocks across the country.
Investors on Mar. 5, also gained insight on diesel expansion at the Lloydminster Upgrader. Officials explained further on plans to expand margins and raise production incrementally during the blending season.
In asphalt, Cenovus is the biggest producer in Canada with the Lloydminster refinery directly supplying the domestic needs.
On growing the conventional oil product in Lloydminster, current yield is about 19,000 barrels of oil a day of light, non-thermal oil without steam. In the past, recovery has been about five to eight per cent but that tally is on the rise, say Cenovus top brass.
On the debottlenecking project, that aims to bring on 3,000 barrels a day of crude processing with completion details still to come.
Over the next five years, Cenovus plans to increase production to 950,000 barrels a day of oil equivalent, up from the present 800,000.