BlackPearl is a Canadian-based oil and natural gas company whose common shares are traded on the Toronto Stock Exchange (TSX) under the symbol "PXX". The Corporation's Swedish Depository Receipts trade on the NASDAQ Stockholm Exchange under the symbol "PXXS". BlackPearl's primary focus is on heavy oil and oil sands projects in Western Canada.
BlackPearl's current core properties are:
- Onion Lake, Saskatchewan - a conventional heavy oil property as well as a multi-phase thermal project. The first thermal phase was constructed and put on production in 2015. Construction on the second thermal phase was completed during the first quarter of 2018 and put on production in the second quarter of 2018;
- Blackrod, Alberta - a bitumen property located in the Athabasca oil sands region of which the Company is currently operating a pilot project using the SAGD recovery process. The Company has received regulatory approval for our 80,000 barrel per day commercial SAGD development application and the project is expected to be developed in phases; and
- Mooney, Alberta - a conventional heavy oil property currently developed using both horizontal drilling and ASP flooding.
These core properties provide the Company with a combination of short-term cash flow generation and medium and longer-term reserves and production growth on multi-phase low decline projects using both EOR and SAGD thermal recovery processes.