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ARTICLE · 21 NOVEMBER 2006

FMC’s Overview Of Significant Developments In The Canadian Energy Industry, October 2006

Dentons Canada LLP
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EnCana and ConocoPhillips announced that they have agreed to a 50-50 upstream/downstream partnership. EnCana will contribute 100% of its Foster Creek and Christina Lake in situ oil sands projects while ConocoPhillips will contribute 100% of its Wood River refinery in Roxana, Illinois and its Borger refinery in Borger, Texas. The partnership is effective as of January 2, 2007 with each company committing to spend $8.5 billion on the projects over the next 10 years.

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Article by Doug Black, Bill Gilliland, Nick Kangles, Alex MacWilliam, Karim Mahmud, Miles Pittman, Rich Miller, John Hurley, Roxanna Benoit, Jerry Farrell & Ron Stuber

Alberta Oil Sands

EnCana and ConocoPhillips announced that they have agreed to a 50-50 upstream/downstream partnership. EnCana will contribute 100% of its Foster Creek and Christina Lake in situ oil sands projects while ConocoPhillips will contribute 100% of its Wood River refinery in Roxana, Illinois and its Borger refinery in Borger, Texas. The partnership is effective as of January 2, 2007 with each company committing to spend $8.5 billion on the projects over the next 10 years. It is estimated that the oil sands assets hold more than 6.5 bbbl of recoverable bitumen. The partnership's goal is to increase production from the current 50,000 bpd to 400,000 bpd of bitumen by 2015.(Please see number 1 on map)

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