What Are The Koch Brothers Up To In Alberta's Oil Sands?
Dick Sterling | Apr 10, 2014 01:54AM ET
There's been a tempest of internet chatter over according to their website . They are producing from an average pay-thickness of 15-20 meters. It's so lucrative that Baytex has announced they will allocate a larger percentage of their 2014 budget to the Peace River area than any of their other operations, including their shale oil projects in the Bakken --- reinforcing my view that Alberta’s oil sands deposits may trump their shale oil counterparts just on the basis of economics alone.
It's therefore little wonder that Koch has moved so heavily into the Peace River oil sands play. They've astutely assembled an incredible land position in one of North America's most valuable oil-producing regions. Between the thermal in-situ oil sands deposits, the substantial cold-flow bitumen pools, and the promising carbonate bitumen reservoir, Koch may be sitting on a multi-billion barrel oil sands portfolio which keeps the company rolling in profits for decades to come.
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