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Corporate Profile

Drilling horizontal wells at Saleski.

Since its founding in late 2005, privately-held Laricina has advanced two grassroots oil sands exploration plays through the technical evaluation steps to the cusp of commercial-scale development. Our Company is focused on creating value through developing a diverse portfolio of oil sands assets that lever technology, in-house expertise and the opportunities offered by pursuing less known, less mature projects. Laricina has demonstrated commercial viability at its two core projects at Saleski and Germain  with an additional three development areas progressed to early-stage exploration and technical evaluation, plus additional exploration lands.

Laricina is focused exclusively on the development of in situ (underground) bitumen deposits in sand and carbonate formations.

Larix laricina is the Latin name for a species of larch tree known as the tamarack, which is common to Western Canada and tends to grow in adverse climate zones such as the northern boreal forest and the high mountains. The tamarack is a pioneer tree that becomes dominant in its surroundings. Laricina is seeking to emulate the tamarack by identifying opportunities that others have ignored and achieving success where others have been unable to progress.

From inception, Laricina has:

  • Raised approximately $1.3 billion in equity in a series of issuances and $150 million in debt;;
  • Assembled oil sands leases totalling 77,886 net hectares;
  • Confirmed an asset base that holds 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) by GLJ Petroleum Consultants Ltd., with more than 12.1 billion barrels in net estimated exploitable net bitumen-in-place;*
  • Advanced its Grosmont carbonate project at Saleski confirming commercial application of C-SAGD and initiated engineering and design for Saleski Phase 1; and
  • Moved its Germain project forward with the demonstration of commercially viable production well-rates from the Commercial Demonstration Project.

    * As determined by Laricina’s independent reservoir engineers as at December 31, 2014 for Germain Grand Rapids, Germain Winterburn, Saleski Grosmont, Burnt Lakes, Conn Creek, Poplar Creek and Portage properties, and as at December 31, 2013 for Thornbury, Thornbury West, House River, Germain Wabiskaw and Boiler Rapids properties.


Where Energy
Meets Innovation

Laricina is advancing in situ technology and innovation, through its forward thinking approach and practices. Our ideas begin with people whose knowledge is based on years of in situ experience, redefining and shaping several of the processes we are implementing today.

Visit Saleski Virtual Tour

Saleski Virtual Tour - Click on this image to take a virtual tour of Laricina’s Saleski project.


Watch our latest technological developments and innovations. View our video gallery.
SAGD Video Gallery

Photo Gallery

See what's going on at Laricina's in situ operations and who's making it happen. View our Photo Gallery.