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Laricina’s operations are focused on exploration and development, through in situ recovery techniques, of less mature bitumen deposits in Alberta’s oil sands region. Since 2005, Laricina has accumulated a deep project inventory creating a broad-based portfolio. Laricina currently has two core projects at Saleski and Germain. The Company also has three additional development areas in early-stage exploration and technical evaluation, plus additional exploration lands.
The Company consistently seeks high-quality assets in close proximity to infrastructure that have the potential for meaningful scale of operations. Laricina’s growth model is built around applying internally generated technologies and innovations that aim to reduce costs, minimize environmental footprints and optimize recoveries from in situ development. Planned recovery schemes include improved variants of steam-assisted gravity drainage (SAGD).
A major focus is to achieve a commercially viable production model for bitumen resources held in carbonate formations in addition to the sandstones traditionally pursued in oil sands development. Laricina has worked in the field as well as the laboratory to advance along the technology curve and apply its findings to producing projects. Laricina’s project portfolio provides exposure to the familiar McMurray Formation sands play, as well as developing Grand Rapids Formation and the Grosmont carbonates, where Laricina is recognized as an industry pioneer.
Laricina’s oil sands leases total 77,886 net hectares. Laricina holds a portfolio of approximately 0.5 billion net barrels of probable reserves, 3.9 billion net barrels of contingent resources (best estimate) and 0.3 billion net barrels of prospective resources (best estimate) with more than 12.1 billion barrels best estimate exploitable net-bitumen-in-place.