Southern Pacific Resource Corp. (STPJF)

Overview

Southern Pacific Resource Corp. is a company focused on the development, exploration, and production of in-situ oil sands and heavy oil properties primarily located in Western Canada. Originally founded in 1953, the organization has evolved over the years, transitioning its name from Southern Pacific Development Corp. to Southern Pacific Resource Corp. in March 2006. Situated with its headquarters in Calgary, Canada, the company strongly emphasizes extracting oil resources in an area well-known for its dense energy deposits. As of the last update, Southern Pacific Resource Corp. is under a reorganization process, indicative of undergoing significant changes or restructuring efforts within the company to better position itself in the energy sector.

Products and Services

• STP-McKay Oil Sands Leases

  This product refers to the company's operation that encompasses approximately 59 sections or 37,760 net acres of oil sands leases. These leases are notably located in the Athabasca oil sands region in north-eastern Alberta, a pivotal and highly coveted area for oil sands development in Canada. The STP-McKay oil sands project represents Southern Pacific Resource Corp.'s commitment to developing in-situ oil sands, utilizing technology and methods that emphasize environmental and operational efficiency.

• STP-Senlac Thermal Heavy Oil Asset

  The STP-Senlac thermal heavy oil asset comprises both wholly owned and partially owned lands totaling approximately five sections. Positioned to the west of Unity, Saskatchewan, this asset focuses on the production of heavy oil, a type of crude oil characterized by its high density and viscosity. Through thermal recovery methods, Southern Pacific Resource Corp. aims to efficiently extract heavy oil, illustrating the company's flexible approach to resource extraction across different geological and market conditions.