Petroteq Energy (TSX.V: PQE) (OTC: PQEFF) , a fully integrated oil company focused on the development and implementation of its new proprietary technology for oil extraction with producing assets at Asphalt Ridge near Vernal Utah, today announced that, since last reported, it has increased its daily average oil production and made changes to its facility’s oil quality baseline. Among highlights included in the update, Petroteq Energy reported that, since December 9, 2019, the facility has produced an average 200 barrels of oil in 12-hour process shifts – a total of 6 days of the 7 day period, as well as oil with API gravity of 15 to 17 API degrees. Higher API of up to 20 degrees has been recorded for shipping of the product during current cold weather conditions.
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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 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 zero greenhouse gas, zero 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 and processing facility located near Vernal, Utah. For more information, visit the company’s website at www.Petroteq.energy
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