Athabasca Oil's Leismer Expansion Hits 40,000 Barrels Per Day

Athabasca Oil's Leismer expansion is delivering on its promise of higher production volumes, reaching approximately 40,000 barrels per day in July 2026. This marks a significant milestone for the company, which has been investing heavily in expanding its thermal oil sands project in northern Alberta.

The second-quarter update from Athabasca Oil showed that new well pairs from the Leismer expansion have come online, contributing to the increased production levels. The company's plan is to ramp up output to 31,000 barrels per day by the end of 2026 and to 40,000 barrels per day by late 2027.

The total capital allocated to the Leismer expansion is approximately $300 million, with an estimated efficiency of $25,000 per barrel per day of capacity. In contrast, the Corner Phase 1 project, which is a larger and more capital-intensive development, has been estimated at roughly $560 million, or about $36,500 per barrel per day.