- Renewed
health in the oil and gas sectors show an ongoing need for products such
as Petroteq Energy’s closed-loop, clean surface extraction CORT operation
- Petroteq
is developing what it believes to be the next big thing in the industry
after fracking generated a domestic oil production boom in the United
States
- While
performing maintenance and upgrades at its Utah production site, Petroteq
continues to demonstrate its technology’s potential through licensing and
lab testing
A new year of continuing recovery in the oil and gas markets
has industry watchers enthused about the outlook for U.S. productivity for
domestic and international consumers during the coming decades, with production
currently hovering at a level of 19-20 million barrels per day. Demand for U.S.
oil is “buoyantly very high,” with more than 2.5 million barrels per day of
crude oil exported in April, according to Forbes (http://ibn.fm/4BG8v), at a rate
that was 35 percent higher than the previous April. Oil product exports, on the
other hand, were double that amount.
Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) is
building momentum as an innovator of CORT (Clean Oil Recovery Technology) and
is making surface tar sands oil extraction cleaner and simpler than ever.
Through a closed-loop recovery process conducted at ground level, Petroteq is
removing bituminous oils from the tar sands that are plentiful in Utah’s rural
eastern desert and leaving behind sands that are clean enough to grow produce.
CEO David Sealock showcased the operations processes of the
company’s two-year labor of love at Utah’s Asphalt Ridge in a video tour of
Petroteq’s facilities published in June (http://ibn.fm/qnZwt) in celebration of phase I production.
The company halted operations in order to perform planned
equipment re-engineering. The coarseness of the Utah desert sands interfered
with initial efforts to arrive at an earlier deadline, but the maintenance
alterations to the equipment are expected to decrease the costs of further
maintenance in the future and improve the facility’s efficiency in reaching its
production goals.
While the facility upgrade advances toward recommencement of
production, Petroteq has been pressing the advantages of its technology with
other companies in the United States and abroad, approving its first
non-exclusive licensing agreement with eastern Texas energy services company
Valkor LLC in July and completing demonstrative lab projects for Asian and
Australian interests that show the ability of Petroteq’s technology in
recovering oil from tar sands and shale (http://ibn.fm/UDwtL).
For more information, visit the company’s website at www.Petroteq.energy
NOTE TO INVESTORS: The latest news and updates
relating to PQEFF are available in the company’s newsroom at http://ibn.fm/PQEFF
About QualityStocks
QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential. We offer several ways for investors to learn more
about investing in these companies as well as find and evaluate them.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment