Sunshine Oilsands making progress at West Ells
Sunshine Oilsands says it is making "significant progress" at its West Ells facility, located about 60 km west of Fort MacKay, Alberta.
Start-up of the SAGD bitumen extraction plant was delayed due to "extensive damage" suffered during last year's spring wildfires. Phase 1 of the facility began producing bitumen in early March of this year and continues to ramp up to its design capacity of 5,000 bbl/day. The company says it remains focused on improving production performance and developing its SAGD chambers.
Second quarter net losses at Sunshine Oilsands narrowed to $19.5 million, down from $20.7 million for the same quarter last year. The Calgary/Hong Kong-based company was delisted from the TSX in late 2015 and is now only listed on the Hong Kong Stock Exchange.