Petroteq
Energy (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), an oil sands mining and
production company with proprietary technology that extracts hydrocarbons from
oil sands without the use of water, today announced that it will complete the
automation of certain processes at its Asphalt Ridge processing facility in
Utah on or around November 20th, 2019. Valkor Engineering and Alfa Laval are
providing engineering and technical assistance in Petroteq’s automation of the
front-end processes at the facility, which is mainly comprised of the sand
separation process, oil quality process and centrifugal process. The automation
is expected to improve efficiencies in the production of crude oil and decrease
operating, maintenance and labor costs. Petroteq believes its oil production capacity
at the facility will reach 3,000 barrels per day by mid-2021. “Since the
recommencement of production, Petroteq’s operating team, working with Valkor
and Alfa Laval, has continued to deliver improved efficiencies,” Petroteq
Energy CEO David Sealock stated in the news release. “We remain focused on
driving efficiencies in our business from an operational and cost perspective
and anticipate that the automation of key processes at our Asphalt Ridge
facility will increase both the quality and consistency of our oil production.
Our CORT’s (Clean Oil Recovery Technology) operational excellence will create
what we believe is a best-in-class, environmentally clean processing facility
with the size, scale and financial positioning to thrive in today’s market.
Combining our high-quality acreage and low-cost operations, we believe that
these metrics will establish Petroteq as a leader in the Utah energy industry.”
To view the full press release, visit http://ibn.fm/EVjbb
About Petroteq Energy Inc.
Petroteq is a fully integrated oil and gas company focused
on the development and implementation of a new proprietary technology for oil
extraction. The Company has an environmentally safe and sustainable technology
for the extraction of heavy oils and bitumen from oil sands, oil shale deposits
and shallow oil deposits. Petroteq is engaged in the development and
implementation of its patented environmentally friendly heavy oil processing
and extraction technologies. Its proprietary process produces nearly zero
greenhouse gas and waste and requires no high temperatures. Petroteq is
currently focused on developing its oil sands resources and expanding
production capacity at its Asphalt Ridge heavy oil extraction facility located
near Vernal, Utah. 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 QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. 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.
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