A Visit to Calgary – Part 4
Lexington Energy Services Inc. (OTCBB: LXES)
Plans for Additional Units
Lexington Energy utilizes component suppliers located in both the US and Canada and intends to build the following:
Item
# of Units
Cost Per Unit
Total Budget
Drilling Rigs
6
$2 million
$12 million
Nitrogen Generation Units
6
$1.5 million
$9 million
Total
12
$21 million
The coring process proves the area that will be mined for oil sands.
The rigs designed and built by Lexington Energy utilize a true top-drive, offering twice the drilling RPM which increases the rate of penetration and accelerates drilling. These cutting edge rigs are produced for a fraction of conventional drilling rigs and can be manufactured in months, as opposed to years.
Each drilling rig has a 33 ft drill pipe that can retrieve a 3-inch wide core up to 2300 ft deep and is accompanied by a core van for the initial evaluation and storage of core samples.
The mining process for oil sands has been modified from the traditional process. Today, large trucks and shovels have replaced draglines and bucket wheels as a more selective, and cost effective way to mine oil sands. The process begins by clearing trees, draining and storing the overburden and then removing this top layer of earth to expose the oil sands.
Lexington Energy has developed equipment that, in addition to being mobile and cost effective, is durable and strong enough to withstand extreme climate and abrasive oil sand.
In Alberta, work in the oil sands never stops. The trucks and other equipment work day and night, every day of the year. Locating the next productive and extensive oil sands field is an essential and continuous part of the process and that’s what Lexington Energy does.
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