SilverBirch Energy Corporation

SilverBirch Energy (formerly UTS Energy) is engaged in the exploration for and extraction of bitumen from Alberta's Athabasca oil sands region, where it has access to up to 900 million barrels of bitumen. The company's primary assets are its 50% stakes in the Frontier and Equinox Projects. Operator Teck Resources holds the other 50%. SilverBirch Energy also has a 50% working interest in 209,280 acres of oil sands leases and holds 100% of 23,040 acres of undeveloped lands. In 2010 oil giant TOTAL SA acquired UTS Energy for C$1.5 billion ($1.4 billion) and spun off a new company, SilverBirch Energy. TOTAL transferred UTS Energy's 20% stake in the Fort Hills oil sands project to a separate Canada-based unit.To read the full description,subscribe now.