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Blog: Chevron: "Will Spend Billions" boosting Oil Sands output
March 14, 2006

The 2nd largest US oil company will spend "billions" to increase output from its oil sands interests, according to a story written by Ian McKinnon appearing through Bloomberg on March 2nd of 2006.

Acquiring 5 leases through Crown land sales in August and January for around $50 million, Chevron says the estimated resource is in the 7.5 billion barrel range.

The resource is not minable and therefore production would take place in-situ, probably using steam-assisted technology.

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