Koch assets up for sale in hopes of joint venture plan

By Tonya Zelinsky Calgary

 14 June 2012 22:59 GMT

US REFINER Koch Industries is putting six of its Alberta, Canada oil sands leases on the market in the hope of attracting a joint venture partner to develop the assets.

Announcing the sale late last week, Koch said it is looking for a “strategic investor to help advance the development and share the costs of six oil sands projects”,according to director of communications, Paul Baltzer.

The half dozen leases, five of which are in the Athabasca oil sands region and the sixth in the Cold Lake oil sands region, are estimated to contain more than 8 billion net barrels of developable bitumen in place over 220,000 net acres.

The total recoverable resource potential is believed to be in excess of 2.9 billion barrels.

Koch…

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