New Tech May Transform The Oil Sands Industry

Actualizado el 11 de julio, 2018 - 15.00hs.

New Tech May Transform The Oil Sands Industry

PR Newswire

LONDON, July 11, 2018 /PRNewswire/ --

FN Media Group Presents OilPrice.com News Commentary 

The earth's oil sands deposits hold literally trillions of barrels of oil. The problem has always been accessing this oil in a practical, clean and profitable way. The traditional oil sands extraction methods are considered the dirtiest production method on the planet… and the most expensive, with breakeven pricing coming in as high as $75 a barrel. Mentioned in today's commentary includes:  Parsley Energy Inc (NYSE: PE), Kosmos Energy Ltd. (NYSE: KOS), Seadrill Ltd (NYSE: SDRL), Diamond Offshore Drilling Inc (NYSE: DO), Splunk (NASDAQ: SPLK). 

Petroteq (PQE.VPQEFF), a small Canadian company working in the oil sands of Utah, has developed a breakthrough, closed-loop system, that extracts clean oil from dry oil sands - for as low as $28 a barrel in high volume settings- considerably cheaper than traditional methods.  

To understand the true importance of what this breakthrough processing means to the industry, it's important to understand what makes the traditional oil sands methodology so costly. The oil sands are a combination of clay, sand, water, and bitumen - a thick, heavy, black oil.  

To extract the oil, the sand itself must be mined, usually with open-pit or strip mine techniques. Once the oil "ore" is mined, it must be transported to an extraction plant for processing. At the plant, a hot-water process is used to separate the valuable bitumen from all the sand, rocks, clay and other minerals. 

Then, it moves on to separation cells, where hot water is pumped into the sand, forming a slurry that's then piped into the extraction plant. At the extraction plant, the hot water/sand/bitumen mixture is agitated to release the bitumen from the sand.  

Traditionally, it takes about 2 tons of oil-sands ore to generate one barrel of oil. And with all-in costs as much as $75.73 per barrel, and break even costs averaging about $37 per barrel in the US, only efficient oil sands projects are economically feasible in today's market.  

Because Petroteq (PQE.VPQEFF) has brought online a simple, self-contained, and easily expandable processing plant for generating oil from tar-sands… aiming for production costs as low as $28 a barrel on volume. After 5 years of research, 2 years of construction and testing, and over $15 million investment in assets, the breakthrough process is producing oil.  

Here are the biggest reasons investors should consider looking more closely at this upstart company, and its breakthrough technology. 

REASON: The first processing plant in Utah has just gone into production - and is expected to be producing 1000 bbl. of clean oil per day from the Uinta deposits  

Petroteq's breakthrough technology is already up and running, producing real, useable oil for what on volume is expected to be a fraction of the cost of traditional oil sands. The company expects to scale up quickly, producing 1,000 barrels of clean oil a day by the end of the year. In fact, the company expects to more than double production every year for the next two years.  

The innovative new "plug and play" system will allow the company to double production from 1,000 to 2,000 bbl per day in 2019… and then more than double again, scaling up to 5,000 bbl a day by the end of 2020. With over 93 million barrels contingent resource of oil in its current leases, the company could potentially produce 10,000 barrels a day - for the next 25 years

REASON: Petroteq's technology is changing the oil sands economics   

The company's proprietary system is the game-changer the industry's been needing for a long time. It's clean, it's completely self-contained, and it can extract 99% of all the hydrocarbons - at costs as low as $28/bbl on volume.  

Unlike traditional processes, Petroteq's (PQE.VPQEFF) proprietary technology creates a continuous flow, closed loop system - where oil sands go in one end… and only oil and clean sands come out the other. 

The real innovation of this system, and what makes it a true breakthrough, is the use of specially designed, non-toxic solvents to replace the thousands of gallons of water used in the traditional oilsands extraction processes.  

Petroteq's patented clean oil recovery technology may be the world's most efficient system for extracting oil from the sands.  

Oil sands ore goes into the system, where it's crushed into uniform chunks, 3/4 of an inch in size. These small chunks are then moved to a vertical tank, where they're mixed with the special solvents and spun furiously by three horizontal propellers. "It is like a cyclone," says Podlipskiy.  

Most importantly, the consistent size increases available surface area, allowing for a more complete extraction, and less time in the mixing tank, thus speeding up the entire process. As the system moves on, remaining solids fall out of the mixture, and the remaining liquids are run through a heated separation column.  

The heat causes the solvents to float off as vapor… where they're condensed back into liquids and recycled back through the process with fresh ore. Petroteq (PQE.VPQEFF) expects to recycle over 99% of the solvents used in the process.  

At the end, the black oil is piped out… and the sands emerge completely dry, scrubbed almost entirely of hydrocarbons and solvents. The clean sand can immediately be returned to the mine pit, safely, and without the need for further remediation to prevent chemicals leaching into the ground.  

REASON: Petroteq's Breakthrough Technology Eliminates the Negative Environmental Impact of Oil Sands Processing   

Extracting oil from the oil sands is a time intensive, and dirty business. It requires thousands of gallons of water, and the use of chemicals and hydrocarbons to separate the oil from the sands. Once processing is complete, all that now toxic water is run off and gathered in tailing ponds - open pools of sludge that will take decades to remediate.  

The tailing ponds left over in Alberta, Canada from their massive oil sands projects have left pools of toxic waste holding over 1 trillion liters of sludge - covering 220 square kilometers. Petroteq's breakthrough technology uses no water… so it produces no run-off and creates no toxic sludge. Only two things come out at the end of this new process - oil, and clean sand. Everything else is recycled. No waste water, no tailings ponds, no need for remediation.

REASON: Immense Opportunities for International Expansion  

Currently, Petroteq controls a contingent resource of 93 million barrels of oil on its properties in Utah - worth roughly $6 billion gross at $70 oil. Yet that could prove small potatoes, very quickly.  

There are oil sands in many countries, but it is too expensive or dirty to extract. And all that oil - much of it unprofitable at $70 crude - suddenly becomes hugely profitable with Petroteq's $28 a barrel technology.  

The U.S. Geological Survey estimated that Venezuela's Oronoco oil sands could hold as much as 1 trillion barrels of oil in place…with 652 billion barrels considered accessible. Russia holds 34 billion barrels locked up in oil sands. Kazakhstan is sitting on 42 billion. China, 5.9 billion. Canada's Athabaska field alone could possibly hold as much as 2 trillion barrels.  

Petroteq's (PQE.VPQEFF) technology could become the most in-demand oil field technology in the world… and international licensing agreements could prove immensely profitable, especially if it is adapted for water-wet oil sands.  

REASON: Expanding Market Impact with Another Potential Game-Changing Solution: BLOCKCHAIN 

Blockchain technology - the digital open ledger systems pioneered by crypto-currencies like Bitcoin - is quickly becoming the next big thing in global technology. And Petroteq is taking the lead by bringing another blockchain based technology to the oil and gas industry.  

Called PetroBLOQ, it will be an innovative Blockchain-based platform designed exclusively for the oil and gas industry. Fluctuating oil prices put market efficiency and cost-effectiveness in high relief for every facet of the industry - upstream, midstream, and downstream.  

The Wall Street Journal has called Blockchain the "future in oil and gas"  

"Oil and gas companies could derive many benefits from blockchain technology, from enhancing efficiency and transparency to more securely storing and managing data," according to WSJ

PetroBLOQ has the potential to reduce operating costs, while improving the speed at which transactions are processed. It will also make storing and managing the enormous amounts of data much more secure, strengthening the industry's defense against cyber-attacks.  

PetroBLOQ represents another industry innovation for Petroteq.   

Smart coding will create contracts that will essentially self-execute - minimizing backlogs, reducing overall costs and virtually eliminating the risk of fraud and corruption across all industry transactions. Blockchain is also expected to improve the speed, efficiency, reliability and ultimately, the profitability, of commodities trading contracts.  

Petroteq's (PQE.VPQEFF) two biggest breakthroughs - clean oil sands processing, and the PetroBLOQ Blockchain technology - show the small Canadian company is stepping up and proving it has the solutions to the industry's biggest and most costly problems.  

Other companies looking to take advantage of the next oil boom:  

Parsley Energy Inc (NYSE: PE) is a major player in the Permian shale play. The company's assets are primarily located in the Midland and Delaware basins.  

Kosmos Energy Ltd. (NYSE: KOS) is a company which focuses on oil and gas exploration, development, and production in emerging areas offshore West Africa. With assets in Ghana, Mauritania, and Senegal, the company already has a strong portfolio.

Seadrill Ltd (NYSE: SDRL) is a company that offers services relating to everything offshore. As an offshore drilling contractor, Seadrill is a go-to for companies rushing to complete their deepwater projects.

Diamond Offshore Drilling Inc (NYSE: DO) is a Houston-based oilfields services company with contracts in Gulf of Mexico, South America, Australia, Southeast Asia, Africa, the Middle East, and Europe, the company is well represented across the world.  

Splunk (NASDAQ: SPLK) is a San Francisco-based cybersecurity firm focusing on resource infrastructure and IT operations. Splunk provides real-time monitoring of the network, severs and cloud infrastructure for its clients. Additionally, the company provides end-to-end application delivery with visibility across the entire application stack.  

By. Ian Jenkins 

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

Forward-Looking Statements

This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements.  Forward looking statements in this release include that PETROTEQ will be able to produce oil as currently scheduled, at the rates of production announced and at the targeted low prices from its Utah property; that PETROTEQ will successfully develop a blockchain supply chain solution for the oil industry; that it will have customers and contracts for its supply chain technology; that oil will be as much in demand in future as currently expected; that PETROTEQ's technology is protected by patents and that it doesn't infringe on intellectual property rights of others; that PETROTEQ will find licensees for its technology and that it can patent its technology in many countries; that PETROTEQ's technology will work as well as expected and will become adaptable to water-wet oil sands; that blockchain technology will help PETROTEQ create a supply chain management system which can handle all transactions; and that PETROTEQ will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  Risks that could change or prevent these statements from coming to fruition include that the Company's patents and other technology protection are not valid, patents may not be granted in countries where PETROTEQ wants to license its technology; production of oil may not be cost effective as expected, technology development costs may be much higher than expected, the technology may not be adaptable to water-wet oil sands, there may be construction delays and cost overruns at the production plants, PETROTEQ may not raise sufficient funds to carry out its plans, changing and increased costs for extraction and processing; technological results based on current data that may change with more detailed information or testing; blockchain technology may not be developed to be as useful as expected and PETROTEQ may not achieve its business plans; competitors may offer better technology; and despite the current expected viability of its projects, that the oil cannot be economically produced with its technology. Currently, PETROTEQ has no revenues.

DISCLAIMERS

PAID ADVERTISEMENT. This communication is a paid advertisement and is not a recommendation to buy or sell securities. Oilprice.com, Advanced Media Solutions Ltd, and their owners, managers, employees, and assigns (collectively "the Company") has been paid by the profiled company to disseminate this communication. In this case the Company has been paid by PETROTEQ seventy thousand US dollars for this article and certain banner ads. This compensation is a major conflict with our ability to be unbiased, more specifically:

This communication is for entertainment purposes only. Never invest purely based on our communication. We have been compensated by PETROTEQ to conduct investor awareness advertising and marketing for PQE and PQEFF. Therefore, this communication should be viewed as a commercial advertisement only. We have not investigated the background of the company. Frequently companies profiled in our alerts experience a large increase in volume and share price during the course of investor awareness marketing, which often end as soon as the investor awareness marketing ceases.

The information in our communications and on our website has not been independently verified and is not guaranteed to be correct.

SHARE OWNERSHIP. The owner of Oilprice.com owns shares of this featured company and therefore has an additional incentive to see the featured company's stock perform well. The owner of Oilprice.com will not notify the market when it decides to buy more or sell shares of this issuer in the market. The owner of Oilprice.com will be buying and selling shares of this issuer for its own profit. This is why we stress that you conduct extensive due diligence as well as seek the advice of your financial advisor or a registered broker-dealer before investing in any securities. 

NOT AN INVESTMENT ADVISOR. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

INDEMNIFICATION/RELEASE OF LIABILITY. By reading this communication, you agree to the terms of this disclaimer, including, but not limited to: releasing The Company, its affiliates, assigns and successors from any and all liability, damages, and injury from the information contained in this communication. You further warrant that you are solely responsible for any financial outcome that may come from your investment decisions.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investing is inherently risky. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell securities. No representation is being made that any account will or is likely to achieve profits similar to those discussed.

DISCLAIMER: OilPrice.com is Source of all content listed above.  FN Media Group, LLC (FNM), is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with OilPrice.com or any company mentioned herein.  The commentary, views and opinions expressed in this release by OilPrice.com are solely those of OilPrice.com and are not shared by and do not reflect in any manner the views or opinions of FNM.  FNM is not liable for any investment decisions by its readers or subscribers.  FNM and its affiliated companies are a news dissemination and financial marketing solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM was not compensated by any public company mentioned herein to disseminate this press release.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Contact Information:
Media Contact
e-mail:editor@financialnewsmedia.com
U.S. Phone: +1-(954)-345-0611

Hola Invitado