Koch Brothers Cashing In 220,000 Acres of Tar Sands HoldingsQuicklink submitted by Sheila Samples Permalink
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|A Canadian division of Koch Industries is reviewing a range of offers to buy up to 220,000 net acres of its many undeveloped oil sands properties within Alberta's vast reserves of oil sands. The Koch projects will extract bitumen using a non-mining technique called steam-assisted gravity drainage (SAGD), and are in various stages of development. The projects could ultimately yield an estimated 2.9 billion barrels of "recoverable" resources and could position the buyer "to be a top tier Canadian bitumen producer," according to an online description of the offering.|
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