Headquarters
215 – 2nd Street S.W., Suite 1900
Calgary, Alberta
Canada, T2P 1M4
Development Strategy
Three-step, proprietary, exploration process with reservoir focus
01
Acquire
Evaluate potential heavy oil acquisition candidates:
Maintain discipline on acquisition metrics with rigorous application of full cycle ownership considerations including asset retirement obligations.
02
Optimize
Maximize facility revenue, reactivate suspended wells through staged, risk “pod” process and deploy capital for long term reduction in operating costs and enhanced capital efficiencies.
03
Develop
Use proven technologies applied in new ways, continue seeking improvements to optimize existing reservoirs and use multi-lateral technology, including Octozontal & Fishbone wells, to access under developed resource.
Core Areas
An asset platform targeting attractive multilateral heavy-oil prospects offering robust drilling economics
Lycos’ acquisition focus is primarily in the Lloydminster area, offering future potential development opportunities with compelling capital efficiencies from existing heavy oil assets. In addition, Lycos retains low-decline, long-life producing assets in the Gull Lake / Swift Current area in Southwest Saskatchewan.
Greater Lloydminster AB
Multi-lateral and fishbone opportunities
Heavy oil area comprised of land with multi-zone Mannville potential targeting Rex, Waseca, Sparky, GP, McLaren, Cummings and Lloydminster, plus:
- Multi-lateral Octozontals and Fishbone development opportunities
- Attractive capital efficiencies with relatively low costs to drill, complete, equip and tie-in
- Identified go-forward drilling inventory with an initial focus on low-cost restarts
Greater Lloydminster SK
Multi-lateral and fishbone opportunities
Heavy oil area comprised of land with multi-zone Mannville potential targeting Sparky, Lloyd and Cummings, plus:
- Multi-lateral Octozontals and Fishbone development opportunities
- Attractive capital efficiencies with relatively low costs to drill, complete, equip and tie-in
- Identified go-forward drilling inventory with an initial focus on low-cost restarts
SW Saskatchewan
Gull Lake / Swift Current, Saskatchewan
Core value with upside torque
Gull Lake / Swift Current area with multi-zone opportunities targeting the Cantuar, Success, Roseray and Upper Shaunavon formations
- Stable production with low decline rate offers base value with meaningful upside torque
- Excellent waterflood response and premium realized pricing given facility tied directly into the S. Saskatchewan pipeline
- Significant go-forward drilling inventory with potential to expand to full field waterflood
