NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V:
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Posted On: 05/18/2018 6:50:50 PM
NetworkNewsBreaks – Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) Tapping Utah Reserves with Innovative Extraction Technology
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is leveraging its innovative technology to tap into Utah oil reserves. An article discussing the company states, “Petroteq’s production focus is on its heavy oil extraction plant in Asphalt Ridge, Utah. The company holds a mineral lease that covers more than 3,000 acres with oil sands reserves estimated at 87 million barrels of oil equivalent. Petroteq has recently expanded the production capacity of its Asphalt Ridge plant from 250 to 1,000 barrels per day (bpd) by debottlenecking the facility and deploying its innovative oil sands extraction technology. The company has the capability to further increase the capacity of this plant in the future through the use of its cost-effective, modular and scalable technology, with netback margins anticipated to average between $15 and $20 per barrel. This resource has a projected life expectancy of 25 to 30 years.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is leveraging its innovative technology to tap into Utah oil reserves. An article discussing the company states, “Petroteq’s production focus is on its heavy oil extraction plant in Asphalt Ridge, Utah. The company holds a mineral lease that covers more than 3,000 acres with oil sands reserves estimated at 87 million barrels of oil equivalent. Petroteq has recently expanded the production capacity of its Asphalt Ridge plant from 250 to 1,000 barrels per day (bpd) by debottlenecking the facility and deploying its innovative oil sands extraction technology. The company has the capability to further increase the capacity of this plant in the future through the use of its cost-effective, modular and scalable technology, with netback margins anticipated to average between $15 and $20 per barrel. This resource has a projected life expectancy of 25 to 30 years.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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