North American Oil Sands Corporation is a private Alberta company founded in 2001. The company is planning an in-situ bitumen extraction project near Conklin in northern Alberta and an upgrading facility in northeast Alberta. When the project is completed, North American expects it to produce up to 220,000 barrels per day of bitumen using steam assisted gravity drainage ("SAGD") technology. When completed, the upgrader will process that bitumen into synthetic crude oil. Any upgrading capacity in excess of North American's needs will be used to process bitumen produced by others through commercial arrangements.
North American has 275,200 acres of oil sands leases (271,373 net) situated north of the town of Lac La Biche in the Athabasca oil sands region of Alberta. North American recently opened an office in Lac La Biche which will serve as a hub for its SAGD operations.
North American has acquired 1,351 acres of surface lands in Strathcona County near Edmonton, Alberta for the purpose of potentially building its upgrading facility on these lands. While North American continues to evaluate other regions as potential locations for its upgrading facility, North American currently prefers the lands in Strathcona County given their proximity to numerous industrial installations and infra-structure.
Major shareholders in North American include Paramount Resources Ltd., Calgary, AB, funds managed by affiliates of ARC Financial Corporation, Calgary, AB and Ontario Teachers' Pension Plan Board, Toronto, ON.
Most Popular Articles
From the Career Center
Jobs that may interest you