The Fort Hills Energy L. P. announced that it will defer the final investment decision on the mining portion of the Project until a cost estimate consistent with the current market environment can be established. The Partnership now anticipates making a final investment decision in 2009. The Sturgeon Upgrader portion of the Project will be [...]

The Fort Hills Energy Limited Partnership said today that the preliminary results from the Front-End Engineering and Design (FEED) work suggest that estimated costs for its Fort Hills Project (Project) have risen considerably. The Project, as currently conceived, consists of an integrated oil sands mine and bitumen extraction plant 90 kilometres north of Fort McMurray, [...]

Oil States International, Inc. announced that the Company’s Canadian subsidiaries under PTI Group Inc. (”PTI”) were awarded a contract by Fort Hills Energy L.P. to manufacture, install, own and operate a first-class accommodation facility for the Fort Hills Project in the oil sands region of northern Alberta, Canada. The associated capital expenditures were included in [...]

Sonterra Resources, Inc and South Texas Oil Company, Sonterra Resources, with South Texas acting as contract operator, has spudded and is currently drilling below 5,000 feet total vertical depth (TVD) in the ST 127 Unit Well No. l under the new contract operating agreement. This well is the initial well in the Sydney/150 Deep Prospect [...]