Devon Energy Planning More Oil Sands Development

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Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Devon Energy Corporation (Oklahoma City, Oklahoma) (AMEX:DVN) is currently planning a new oil sands development project in Canada. Referred to as the Jackfish project, Devon is studying the feasibility of constructing a thirty-five thousand barrel per day bitumen production facility, located 15 kilometers southeast of Conklin, Alberta, at an estimated cost of $225 million. Devon expects to begin pilot testing within the next two years. By 2007, they anticipate the commission of a full-scale production facility based on steam-assisted gravity drainage technology.

The $75 million Apex Expansion Project is being facilitated at Devon's Dover facility, located near Fort McMurray. Expected to go on-line in 2006, this project will increase the Dover facility's production by ten thousand barrels per day.

Devon Energy Corporation is ranked in the top five U.S. independent oil and gas producers. Devon also has operations in Asia, Africa and South America. Most recently in November 2002, Devon completed a 200 mmcsfd expansion of its Bridgeport processing plant 45-miles northwest of Fort Worth, Texas.

Industrialinfo.com is presently tracking nearly thirty-five oil sands projects in Alberta Canada as part of its North American Industrial Database.