Cretaceous Sandstone (clastics)
Sunshine is commencing our initial cretaceous sandstone development construction, unlocking what we anticipate to be an important area of focus for rapid SAGD oil sands production. This development will be executed in modular and scalable phases to manage project timing and cost pressures and to take advantage of evolving recovery technologies. On the basis of our management assumptions, we expect our base case clastic assets to have a total productive life of 55 years.
We estimate that the recovery rates for these assets will be greater than 60%. These assets are characterized by an expectation of reliable and predictable results due largely to the homogeneity of our large deltaic deposition reservoirs.
Sunshine continues to explore and delineate its vast carbonates resource. Our carbonate holdings of ~46 billion barrels of PIIP (Petroleum Initially In Place) hold the potential to provide significant upside as commercial extraction technologies emerge. Our team is advancing our carbonate development plans and will have a carbonate commercial application submitted by early 2018. Sunshine's staff possesses strong technical and operational experience in planning, modeling and successfully executing carbonate thermal recovery programs.
Sunshine's Harper pilot was a first step in development of these lands as we initiate activity in the region. The initial pilot proved mobility and provided data on thermal responses of the reservoir. We will be submitting more carbonate pilot applications for our other carbonate formations.
Conventional Heavy Oil
Introduction of production enhancement technology through joint venture with Renergy Petroleum (Canada) Co. Ltd. at Muskwa and Godin.