Canadian based company U.S. Oil Sands announced this month that plans for the PR Spring project will be deferred until a $7.5 million dollar financing is complete. Mechanical construction of PR Spring is complete but “as a result of liquidity constraints,” the Company has elected to “lay-up the facility pending the closing of Financing.” The announcement also states that most Canadian and U.S. employees have been temporarily laid off, retaining only those essential to close a financing and a few U.S. employees to maintain basic operations of the facility. U.S. Oil Sands hopes to have financing complete by the end of December in which case employees will be brought back in January 2017. Commissioning procedures can then begin that will lead to commercial production.
