Byline: manish03

Calgary-based oilsands junior UTS Energy Corp. plans to sell its half-interest in three northern Alberta properties to Imperial Oil Ltd. and its parent ExxonMobil Corp., freeing up $200 million for other projects in the region.

"This transaction demonstrates the success of UTS' strategy of generating cash reserves organically by finding new oilsands resources," the company's chief executive officer, William Roach, said in a statement Monday.

The land package, east of the Firebag River in northeastern Alberta, includes Lease 421, ...

Find more facts and information related to the article "United States: UTS Sells Oil Sands Assets To ..."