Skip to main content
← All Experts

Sue Riddell Rose

President & CEO | Rubellite Energy | Clearwater heavy oil operator and 35-year WCSB veteran

"CEO of Rubellite Energy; Paramount Resources director since 2000; Clearwater heavy oil operator"

Mining Executive

Biography

Sue Riddell Rose is President and Chief Executive Officer of Rubellite Energy, a junior Canadian heavy oil producer built around the Clearwater and Mannville Stack plays in eastern Alberta. She came up through the technical side of the business — a Queen's University–trained geological engineer who started her career at Shell Canada — so her view of commodity investing runs through geology and operations rather than through Wall Street framing.

Her track record spans three and a half decades in the Western Canadian Sedimentary Basin (WCSB — the country's main oil and gas region). After graduating in 1986, she joined Shell as a geological engineer, then moved to Paramount Resources in 1990 and rose to Corporate Operating Officer by 2002. She has sat on Paramount's board since 2000, giving her one of the longest continuous directorships among resource executives on the TSX (Toronto Stock Exchange), and has also served on the boards of Secure Energy and AltaLink, L.P.

Her approach to commodity investing is conservative-capital-structure and free funds flow generation — the returns-over-production discipline that separates juniors that survive downturns from those that do not. Rubellite's pitch to investors is multi-lateral horizontal drilling (multiple horizontal wells drilled from a single surface pad) in the Clearwater, a heavy oil formation that has been one of the most productive new Canadian oil plays of the past five years, paired with a self-funded growth plan rather than constant share dilution.

For a resource investor today, the relevance is operational: Rubellite's quarterly results, net debt, and Clearwater well productivity are a clean read on the state of the Canadian heavy oil patch. Her recent appearance alongside gold-and-silver specialists on commodity programming also makes her a useful energy-side voice in a diversified resource portfolio.

Videos (1)

Rubellite Energy – Q2 Operations and Financials, & Disposition of the East Edson Natural Gas Assets

Rubellite Energy – Q2 Operations and Financials, & Disposition of the East Edson Natural Gas Assets

guest Sep 9, 2026
  • Top takeaway Frames Rubellite as a pure-play heavy oil growth story built on multi-lateral drilling plus water-flood pilots, with the Edson-for-Topaz deal repositioning the company around heavy oil
  • Started as a geological engineer at Shell, then had a long stint at Paramount Resources where she helped spin out Paramount Energy Trust, converted it into Perpetual Energy in 2010, and has led Rubellite since the 2021 Perpetual spinout
  • Argues water floods could drop the corporate decline rate from roughly 40% to 15-20% and lift recovery factor from 5% to 10-15%, shifting the company toward a return-of-capital model
  • Calls the Edson-for-Topaz-shares transaction balance-sheet risk reduction plus retained gas-price optionality, since the Topaz stake can be held or monetized
  • Points to a one-rig program at each of Figure Lake (about 6,000-plus boe/d) and Frog Lake (about 3,000 boe/d) as viable down to sub-$60 WTI, with $75 WTI generating enough free cash to accelerate growth and debt paydown

Rubellite sold its East Edson gas assets for 2.083M Topaz shares ($67M), repositioning the company as a ~90% heavy oil pure play. Q2 production averaged 13,406 boe/d (67% heavy oil/NGL), beating top-end guidance; adjusted funds flow was $35.2M on net debt of $158.1M. Seven water flood pilots across Clearwater assets aim to roughly halve the ~40% corporate decline and lift recovery from 5% to 10–15%. Net debt to cash flow sits at 1.1x (0.7x if Topaz shares netted off); management targets 0.5x before returning capital to shareholders.

Showing 1–1 of 1 videos

Disclaimer: Sue Riddell Rose has NOT endorsed this platform and is not affiliated with Pixys in any way.