Western Oil Sands

Western Oil Sands

Infobox_Company
company_name = Western Oil Sands
company_
company_type = Public
company_slogan =
foundation = Calgary, Alberta
location = Calgary, Alberta
key_people = James C. Houck, President & CEO, David A. Dyck, Vice President & CFO
revenue = (2005)
industry = Oil and Gasoline
num_employees =
products = Oil & gas exploration and production
homepage = [http://www.westernoilsands.com/ www.westernoilsands.com]

Western Oil Sands, headquartered in Calgary, Alberta is a 20 percent partner in the Athabasca Oil Sands Project. Together with their partners, Western Oil Sands mines and extracts recoverable bitumen reserves at the Muskeg River Mine for transportation to the Scotford Upgrader, 435 km to the south, for upgrading into synthetic crude oil.

Profile

On May 30, 2006, Western Oil Sands announced that its wholly owned subsidiary, WesternZagros Limited, entered into an Exploration Production Sharing Agreement (EPSA) with the Kurdistan Regional Government, Sulaymaniyah Administration to explore for conventional oil and gas in the Federal Region of Kurdistan. This agreement will become effective when it is passed into law which is expected to occur in the coming months. Western Oil Sands maintains an ongoing effort to identify opportunities with large hydrocarbon resource potential.

On July 31, 2007 Western Oil Sands announced a plan of arrangement with Marathon Oil Corporation. For approximately $6.6 billion, Marathon will acquire all of Western's outstanding common shares and gain ownership of its 20 percent stake in the Athabasca Oil Sands Project. Western subsidiary WesternZagros Limited will spin off into WesternZagros Resources Inc., whose new shares will be distributed to existing shareholders. All of Western's assets in the Federal Region of Kurdistan will be controlled by WesternZagros Resources, Inc.

Corporate governance

Current members of the board of directors of Western Oil Sands are: Guy J. Turcotte, David J. Boone, Tullio Cedraschi, Geoffrey A. Cumming, James C. Houck, Oyvind Hushovd, John Lill, Randall Oliphant, Robert G. Puchniak, and Mac H. Van Wielingen.

ee also

* Oil
* Tar sands
* Gas
* Oil well
* Drilling
* OPEC
* List of oil-producing states

External links

* [http://www.westernoilsands.com/ Western Oil Sands Official website]
* [http://www.westernoilsands.com/default.asp?V_ITEM_ID=347&article=1033974/ Western Oil Sands Announces Plan of Arrangement with Marathon Oil Corporation and Distribution of WesternZagros Shares to Western Shareholders Press Release]


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать курсовую

Look at other dictionaries:

  • Oil sands — The Athabasca oil sands in Alberta, Canada, are a very large source of bitumen, which can be upgraded to synthetic crude oil. Bituminous sands, colloquially known as oil sands or tar sands, are a type of unconventional petroleum deposit. The… …   Wikipedia

  • Kearl Oil Sands Project — ☉ The Kearl Oil Sands Project is a proposed oil sands mine in the Athabasca Oil Sands region at the Kearl Lake area, about 70 kilometres (43 mi) north of Fort McMurray. It is developed in three phases and expected to begin production in late …   Wikipedia

  • History of the petroleum industry in Canada (oil sands and heavy oil) — Canada s oil sands and heavy oil resources are among the world s great petroleum deposits. They include the vast oil sands of northern Alberta, and the heavy oil reservoirs that surround the small city of Lloydminster, which sits on the border… …   Wikipedia

  • Melville Island oil sands — Map showing location of Melville Island in Canada. Country   …   Wikipedia

  • Oil shale extraction — is an industrial process in which kerogen mdash;a mixture of organic chemical compounds (including hydrocarbons) found in oil shale mdash;is converted into synthetic crude oil through pyrolysis. In pyrolysis, oil shale is heated in the absence of …   Wikipedia

  • Oil shale economics — deals with the economic feasibility of oil shale extraction and processing. The economic feasibility of oil shale is highly dependent on the price of conventional oil, and the assumption that the price will remain at a certain level for some time …   Wikipedia

  • Oil & Gas UK — Abbreviation (former UKOOA) Motto The Voice of the Offshore Industry Formation April 2007 Legal status Non profit company Purpose/focus Offshore oil …   Wikipedia

  • Oil depletion — per major producing country. This model assumes world oil depletion remains constant at the 2004 level of 80 million barrels per day.[1] However, world oil depletion is currently (as of 2008) at 85 million barrels per day …   Wikipedia

  • Oil and Natural Gas Corporation — Limited Type State owned enterprise Public Traded as NSE:  …   Wikipedia

  • Western Canadian Sedimentary Basin — The Western Canadian Sedimentary Basin (WCSB) is a vast sedimentary basin underlying convert|1400000|km2|sqmi of Western Canada including southwestern Manitoba, southern Saskatchewan, Alberta, northeastern British Columbia and the southwest… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”