MCW Energy Group Ltd. is
an energy company focused on the development and implementation of proprietary,
environmentally-friendly oil sands extraction technologies and remedial project
solutions. The company also capitalizes on opportunities to enter into joint
ventures and licensing agreements with governmental and private industry
entities around the world, in order to better harness the benefits of these
technologies.
Since selling its Fuels
Division in 2014, the company has turned its full attention to the current void
in environmentally-friendly solutions for the extraction of oil sands. MCW’s
dedication to extraction systems research, component design, solvent
composition selections and extraction plant design criteria led to the
unveiling of its initial extraction plant design in October 2014. Unlike
previously available extraction methods, the company’s proprietary design
eliminates the requirements for water, high temperatures and high pressures, as
well as the emission of greenhouse gas. In addition to being environmentally
friendly, MCW’s extraction plant design is also fully scalable and commercially
viable.
With a successful design
in place, MCW has now turned its focus to implementation. The company has
selected the Uinta Basin region of Eastern Utah as a result of the state’s
massive untapped oil potential. According to reports by the Argonne National
Laboratory, Eastern Utah’s in-place tar sands oil resources are estimated to be
at least 12 to 19 billion barrels, which are, as of yet, undeveloped and ready
for future production.
While Utah produced over
30 million barrels of oil in 2014, MCW is the first to use non-conventional
production practices. By positioning itself as ‘first out of the gate’ with its
new oil sands extraction techniques, the company is poised to fill Utah’s
current technological void. According to Cody Stewart, Energy Advisor to the
state of Utah, “Utah is sitting on an energy gold mine.” With new technology
recently unleashing the full production potential of the Bakken Formation of
North Dakota, many feel that the time is now for a new solution to Utah’s
undeveloped oil sands deposits, which opens the door for MCW’s unique
resources.
MCW is already underway
with its scale-up program, which includes the design and fabrication of several
new, larger capacity extraction units to be deployed in the coming years. Led
by a team of industry professionals headed by Dr. R. Gerald Bailey, Chief
Executive Officer, the company is currently preparing to commence production on
its initial extraction plant in Asphalt Ridge, Utah and continuing negotiations
for the funding of its short term scale-up phase production program.
With the development and
implementation of its initial extraction plant, MCW is looking to introduce a
new era in oil sands technology and production that provides efficient, safe,
commercially-viable extraction and embraces the environment and ecological
values that accompany true stewardship of the land.
For more information,
visit www.mcwenergygroup.com
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