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Trevor Rix

Trevor Rix

Sep 11, 2026

11:24
Do we have enough oil sands resource in Western Canada to fill all these pipes?
11:31
Yeah, I mean the resource quantity that we have was never the limiting factor when you add it all up, depending on whose estimate you look at.
11:40
I mean, ours is well over 200 billion barrels of resource that exists up in the oil sands.
11:47
about 70 of those are within our existing permitted projects right now so when you think of those 70 billion barrels that would get you about 100 years of um of supply um so that clearly you know it's not a in the ground resource problem it's more on the uh above the ground side of things where we have constraints um but where where so when when we think about like what's filling what is likely to fill these pipelines um in the front three to four years it's mostly going to be capital light projects that are low hanging fruit we think talk about those ml01 and tnx kind of um the the the early expansions Both should be easy to fill with some of the existing projects, just kind of some expansions to them.
12:38
It's when we get into later into 2030s where we have to pull on some of these so-called greenfield or more capital intensive projects with more infrastructure.
12:50
um so all told we've got about 1.3 million barrels of growth scheduled um by 2035 in our current forecast to fill these pipelines and then um of that it's about 85 percent of it or so 85 or 90 percent of it comes from mines or sorry from sagd and the remainder coming from mines um so the the companies that we kind of got And the projects we've got filling that relies heavily on companies like CNQ and Suncor.
13:20
CNQ in particular, I think, is the one that we've got most heavily weighted in there.
14:37
It's going to look a little more capital intensive for investors.

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