Prosper Petroleum Limited

Prosper Petroleum Limited in its approved Rigel Oil Sands Project


Prosper Petroleum Limited


$440 million


Regulatory, Indigenous and Environmental

Date Closed

June 2018



Lead Office



On June 12, 2018, Prosper Petroleum Limited announced that the Alberta Energy Regulator had approved its application for a steam-assisted gravity drainage oil sands project northwest of Fort McMurray, Alberta following a multi-year public hearing process.

The project is expected to begin construction by the fourth quarter of 2018 and begin operation by 2020, in partnership with Petrolama Namur Oil Sands Exploration. The project will produce 10,000 barrels of oil per day.

Prosper Petroleum Ltd. is a Calgary-based private upstream oil and gas company heavily focused on oil and oil sands.

Osler, Hoskin & Harcourt LLP represented Prosper Petroleum with a team consisting of Sander Duncanson and Jessica Kennedy (Regulatory, Indigenous and Environmental).