RENEX Exploration Announces Drill Results At Matawa Place
RENEX Exploration Limited has announced drill results show the potential to expand the historical Matawa Place....
Read MoreGrande Prairie, located in the heart of Alberta's oil and gas industry, became RENEX®’s third operation in the province, following the successful operations in Peace River and Lethbridge, also in the company's home province, Alberta.
In 2012 RENEX® launched three operations simultaneously following a year-long exploration project which revealed almost five times the reserves once predicted. In record time, extraction and production began just six weeks into the venture. Between 2016 and 2017, three more operations were launched.
RENEX® currently produces 1,865 barrels of oil per day (BPD) on average across its six operations in Grande Prairie.
Primary Extraction | Heavy Crude Oil |
Location Launch Date | 05/04/2012 |
Number of Operations | 6 |
Average Extraction | 1,865 BPD* |
Location Country | Canada |
Estimated End of Life | 2048 |
RENEX® Ownership | 100% |
Grande Prairie, Alberta, is located within one of Canada's richest energy regions, though it is more commonly associated with agriculture than oil. However, the broader southern Alberta area is home to significant crude oil reserves, contributing to the province’s status as a global energy hub. The extraction and production activities in the region support Alberta's energy industry, bolstered by advanced technologies to optimize recovery while addressing environmental and community considerations.
Heavy Crude Oil is the primary product for RENEX® at its Alberta locations, especially in Grande Prairie where the reserves are abundant and easier accessed. In Grande Prairie, Thermal extraction is the preferred method of production, reducing waste and avoiding the need for chemical assistance. The thermal method also eases transportation, making a more efficient and higher quality product for its clients.
With a NYSE Listing on the Horizon, there's no better time to invest in RENEX®
Investor RelationsRENEX Exploration Limited has announced drill results show the potential to expand the historical Matawa Place....
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