Oil Sands in Utah

In Utah there are currently two explorations into producing oil from tar sands that stand out and we should keep some eyes on: Petroteq, near Vernal and U.S. Oil Sands operating at the P.R. Springs site.

Petroteq (was MCW):

Operating an old tar sands mine outside of Vernal that was previously used to mine road material.
Now has a processing facility on site and they are actively encouraging investing in it.
Here is a report debunking some of the propaganda that Petroteq has put out in the last few months.

They were fined for trespassing on their lease hold after not paying the lease payments in 2015.

US Oil Sands:

Built a $80+ Million experimental processing facility and began strip mining.
Went into bankruptcy right after completing the plant.
Was appointed a receiver, FTI Consulting, to deal with the company and its debts.
US Oil Sands owes SITLA $265,000 in outstanding leasing and minimum royalty payments.
The company is now For Sale  Bids Due by April 6th.

 

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Posted on March 13, 2018, in Uncategorized. Bookmark the permalink. Leave a comment.

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