Osum Oil Sands Corp. is a Calgary, Alberta-based oil exploration and production company focused on developing oil sands projects in both the Cold Lake and Grosmont carbonates (Saleski) regions of Northern Alberta. Since Warburg Pincus’s initial investment in 2008, the company has advanced the development of its properties, which are estimated to contain between 3.5 to 4 billion barrels of recoverable resource, which could sustain production of up to 250,000 barrels of oil per day for 30 to 40 years.
The management team is led by CEO Steve Spence, who has extensive senior management experience in conventional and unconventional resource developments including thermal heavy oil and other enhanced oil recovery techniques.
Warburg Pincus led an equity financing into Osum in August 2008 and made a follow-on investment in 2012.
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