Rubellite Energy Corp. is a Canadian exploration and production company that targets heavy crude oil and liquids-rich natural gas assets. The company's core operations are concentrated in the Clearwater and Mannville Stack formations of Eastern Alberta, with key asset areas including Figure Lake, Marten Hills, Frog Lake, and Ukalta. Originally spun out of Perpetual Energy Inc. in 2021, Rubellite recombined with its former parent company in late 2024 to increase its scale and consolidate operations. The company employs multi-lateral horizontal drilling technology to optimize the development of its heavy oil reservoirs. In addition to its heavy oil focus, Rubellite holds conventional natural gas assets in the deep basin of West Central Alberta and undeveloped bitumen leases in Northern Alberta.
