Post Tagged with: "American Sands"

American Sands Energy Moves Forward in Utah Oilsands Project

American Sands Energy Moves Forward in Utah Oilsands Project

Utah oilsands producer American Sands has received DEQ approval American Sands Energy (ticker: AMSE) announced today that it has reached another milestone on the road to starting production at its Sunnyside oilsands project. The Department of Environmental Quality (DEQ) published Ground Water Discharge Permits and its associated Construction Permit for the project, according to a company press release. “Obtaining the approval of the DEQ is a major achievement for American Sands,” said company COO Robin Gereluk. “Once we are fully permitted, AMSE hopes to be producing bitumen within 18 months at a rate of up to 9 MBOPD.” The company expects the project will produce oil at a cost basis of under $40 per barrel. By comparison, tar sands are believed to cost around $75 per barrel in Canada. The company is also currently in the process of working on its Large Mine Permit. AMSE believes it has met all[Read More…]

April 28, 2015 - 6:49 pm Oil and Gas 360 Articles, Oil Sands