Connacher provides update on Great Divide as it sits under creditor protection
Connacher Oil & Gas provided an update on its Great Divide in-situ operation this week, as the company sits under creditor protection.
Third quarter production averaged 12,812 bbl/day, bringing the year to date average to about 12,300 bbl/day. Operating costs were reported at just over $18/bbl (including energy), improving netbacks to $10.67 per barrel of bitumen.
Great Divide is split into Pod One and Algar, consisting of 41 well pairs - 18 SAGD wells are located at Algar while Pod One has 23 SAGD well pairs and 13 infill wells. After being taken offline last year due to low oil prices, all 41 well pairs were put back into production this past spring. The facility has an overall nameplate capacity of about 15,000 bbl/day.
Connacher has been under creditor protection since the spring of 2016.