BREAKING: New Tech Just Unlocked A Trillion Barrels Of Oil “Heavy Oil” is basically a dirty word in the energy world.
But that’s all about to change.
Technology company Petroteq Inc. is using a new proprietary Enhanced Oil Recovery (EOR) system that could completely revolutionize oil sands extraction. This technology just might be the key to unlocking the next wave of the energy boom leading to domestic energy independence.
Through a closed-loop system, Petroteq’s EOR can extract 99 percent of all hydrocarbons without releasing ANY greenhouse gases.
At their Asphalt Ridge property in Utah, Petroteq (TSX:PQE.V; OTC:PQEFF) is sitting on a contingent deposit of 86 million barrels…and their extraction facility is now fully operational.
The grand opening, according to CEO David Sealock, “was the culmination of two years of hard work by our entire team…as well as the harbinger of value creation to come.”
The company can produce oil for as little as $28 per barrel, they’re already set to produce 1,000 bpd by the end of this year and 5,000 bpd by the end of 2020.
The Big Picture— Scattered throughout Utah, Colorado, and Wyoming are oil sands deposits equal to 1 trillion barrels. There are trillions more locked away in deposits around the world. And Petroteq’s proprietary oil tech can get to it. The company is filing patents around the world, and the licensing opportunities for its EOR closed-loop system are enormous. This tech could be the silver bullet needed to unlock the oil sands of Utah.
we need to burn less oil not more , I want my cold fusion motorcar goddamn
Jace Sanchez
>jealous Usa is literally the joke of the earth
Connor White
beautifull
Lincoln Bennett
tell your sis to stop burning coal, it’s a good start
William Wilson
b-but she loves the bbc
Gavin Wood
Ouch We might spare this burger
Justin Johnson
Its your turn now
John Jenkins
>Flagtard
Luis Scott
does she have a license for it though?
Logan Kelly
This reads like a penny stock press release
Ryder Foster
>they’re already set to produce 1,000 bpd by the end of this year and 5,000 bpd by the end of 2020. IT'S NOT ENOUGH. There's something like 2M bpd to make up for after Iran's exports are shut down. Hurry the fuck up.
Jose Moore
you'll always have bacon and maple syrup to fall back on, Gord...
try fracking instead it really triggers the libtard
Jeremiah Scott
take the meme flag off pajeet
Oliver James
So grab a ton of cheap as dirt shares for shits and giggles? Obvious shill is obvious but blowing a couple hundred could prove to be profitable if this pans out.
Gavin Wright
So this isn't extraction technology. It's simply processing technology. The tech is more or less exactly identical to current oil sands, CHOPs or any other heavy oil processing. Just missing the step of being upgraded to something near light crude which takes methane for making shorter carbon chains.
A standard barrell of oil costs about 52 dollars to produce. If they can actually produce oil for only 28 dollars a barrel, this company is going to be swimming in profits and likely have many other processing facilities upgrade and license their technology.
Could be pretty based my friend.
Jonathan Allen
>Through a closed-loop system with rocks and sand?
They can't lower the cost because this isn't extraction tech. It's processing tech and isn't doing anything new. Also some garbage about blockchain tech?
Oil sands have two problems. 1: If you have shallow reserves you need to physically dig it up which takes vastly more effort (money) than sinking a pipe. If you have deep reserves you need to heat it up then pump it out. That takes large amounts of energy, which is expensive.
2: After you have your either sand oil or oil with sand you then need to clean that up. This is done by the classic methods; Heat it up, use chemical, and time. After that basic cleaning you have heavy long chain sludge that's closer to tar than oil. You can't pipe it without large amounts of distillate to thin it out. That distillate is mostly recycled but that requires shipping stuff back from the refiner to the production field. Or you upgrade it in location by adding hydrogen from methane to make it something you can pipe or train around to a conventional refinery. Upgrading is expensive but has been refined down to a science in the Alberta Oil Sands.
This company isn't suggesting anything new in it's paid advertising.
