Obsidian Energy: Environmentally Responsible Practices

Obsidian Energy: Environmentally Responsible Practices

Heavy oil reserves in Alberta, Canada contain about 100 billion barrels of bitumen. This is equivalent to 70.8% of the total natural bitumen reserves in the world existing in this region. Obsidian Energy is deeply concerned about how their operations and methods of obtaining these valuable natural resources will impact the surrounding land, water and living organisms in the environment. They have developed programs and using measures that will minimize this impact and reduce their carbon footprint.

Obsidian Energy is one of the largest producer of natural gas and oil in Canada. Obsidian Energy is an environmentally responsible corporation that has tapped into this precious resource using technologically advanced methods such as Cold Heavy Oil Production process.

Obsidian Energy produces their crude oil products using innovative methods that are effective, efficient and safe for the environment. An example of the use of cold flow production is evident in the Peace River Operated Partnership project. The Peace River Partnership is a joint project between Obsidian Energy and China Investment Corporation. They are currently working together to extract heavy crude oil from the oil sands in Peace River.

The oil sands or tar sands are a type of petroleum deposit found within sandstone or loose sands that are saturated with bitumen. Bitumen, more commonly known as tar, that is an extremely thick and dense form of petroleum. Because of its viscosity or thickness, it cannot be recovered at a fast-enough rate through conventional oil wells. Go Here for related Information.

Peace River is the largest river in Alberta, Canada and river flows through the oil sands which are located within the Peace River watershed. The Peace River oil sands contain close to 200 billion barrels of bitumen that lie 1,600 to 2,300 feet deep. Because the bitumen deposit is so deep, the Cold Heavy Oil Production process with Sand (CHOPS) is employed.

 

Learn More: https://www.bloomberg.com/quote/OBE:CN