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OilStockReport

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OilStockReport

Re: MinnieM post# 42

Wednesday, 07/13/2011 5:47:42 PM

Wednesday, July 13, 2011 5:47:42 PM

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Oil Sands update.

Jackfish 1
Devon Energy started production from Jackfish 1 in 2008 and reached maximum capacity here in 2010, with the project currently producing 33,000 barrels of oil per day net. The company spent $620 million in capital to start up the Jackfish 1 project.

Jackfish 2
Devon Energy started construction on Jackfish 2 in 2009 and began production in June 2011. The company spent $1 billion in startup capital on this project, as costs for materials have accelerated sharply over the intervening years. Devon Energy expects this project to reach peak production in late 2012.

This is not an offer to buy or sell securities or any kind of investment advice. Oil investment carries very high risks so consult a licensed professional making any decisions. My resume is real time on Twitter @TurnKeyOil.

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