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SilverWillow Completes Estimate for SAGD Facility
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SilverWillow Energy Corporation has filed its third quarter financial statements and management’s discussion and analysis for the quarter ended September 30, 2013.
During the third quarter, SilverWillow’s engineering consultants completed the preliminary engineering and cost estimate for Phase 1 of the proposed Audet steam assisted gravity drainage project. The facility is being designed to produce an annual average of 12,000 barrels per calendar day of bitumen at a steam to oil ratio of up to 2.5:1. The preliminary Class 4 capital cost estimate for the project totals $550 million, implying a capital intensity of just under $46,000 per calendar day of bitumen production.
The stated accuracy of this cost estimate is within a range of plus or minus 30%. This estimate includes site access…
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