Exploration & Production | Operational Updates
Zargon Oil and Gas Updates EOR Progress, ASP Injection
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Zargon Oil & Gas Ltd. has reported that the revisions to the Enhanced Oil Recovery royalty program announced last week by Alberta Energy will have a positive impact on the economics of Zargon's Alkaline Surfactant Polymer enhanced oil recovery project at Little Bow in Southern Alberta.
Zargon is currently reviewing the details of Alberta's modified EOR Crown royalty program, which effectively bring the Alberta conventional oil EOR royalties more in line with existing Alberta oil sands (in-situ) and Saskatchewan conventional oil EOR royalty programs.
Zargon's initial estimates indicate the terms of the revised EOR program could increase Zargon's full cycle rate of return of the first two phases of the Little Bow ASP project by up to 5 percent (to 22 percent) and increase the discounted…
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