Koch Puts Alberta Oil Sands Leases Up for Sale
by Dow Jones Newswires
|Friday, June 08, 2012
CALGARY, Alberta - Koch Industries Inc. is looking for an investor for several oil-sands projects in Alberta, according to a property-marketing firm representing the company.
The privately owned Wichita, Kan., conglomerate is seeking to sell six oil-sands leases, either outright or as partial joint-venture stakes that Koch would operate, according Moya Little of Western Divestments.
The undeveloped leases are in the Namur, MacKay, Muskwa, Firebag, Pelican Lake and Cold Lake regions of northern Alberta and cover 220,000 net acres. The leases in total hold 2.9 billion barrels of oil recoverable using steam-injection technology and could produce up to 345,000 barrels a day, Little said.
A spokeswoman for Koch's Canadian operations wasn't immediately available to comment.
Copyright (c) 2013 Dow Jones & Company, Inc.
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