(Photo supplied: The Hangingstone site is 20 kilometres southwest of Fort McMurray. Athabasca Oil Corporation)
Athabasca Oil Corporation says its Hangingstone project has 15 well pairs on production with an additional six on circulation.
The project is currently producing over 4,000 barrels per day with a target goal of 12,000 bbl/d by the end of 2016.
“Reservoir response, plant reliability and initial production ramp-up continues to meet management’s expectations,” stated the company in a press release.
It’s already met its low end targets for 2015 year-end between 3,000 – 6,000 bbl/d. The SAGD site located about 20 kilometres southwest of Fort McMurray reached first oil in July. Athabasca Oil Corporation invested $536 million of capital budget into the project.
