Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Maintains Focus on Becoming First Environmentally Friendly Oil Sands Mining Facility

September 19, 2018 10:40:28
  • U.S. Energy Information Administration estimates that about 50 percent of total U.S. crude oil production in 2017 was produced directly from tight oil or oil embedded in low-permeable shale, sandstone and carbonate rock formations
  • Petroteq’s patented clean technology extracts heavy oil from oil sands, oil shale deposits and shallow oil deposits in environmentally safe and sustainable method
  • Advanced technologies and efficiencies for extraction of oil and gas from liquid-rich shale credited with moving U.S. back to top of global energy sector
  • Petroteq preparing to produce 1,000 barrels of oil per day, with 8,000 bpd target
  • Continuity testing complete as Petroteq plans to begin extraction during Q3 2018

A shale boom has helped send U.S. crude oil production surging above 10 million barrels per day (bpd) for the first time since the 1970s, according to a monthly report from the U.S. Energy Information Administration (EIA), a Reuters article states (http://nnw.fm/q3nsX). The EIA estimates that, in 2017, about 4.67 million barrels per day of crude oil – or 50 percent of total U.S. crude oil production – were produced directly from tight oil resources in the United States. Tight oil is oil embedded in low-permeable shale, sandstone and carbonate rock formations

Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), a fully integrated oil and gas company focused on the development and implementation of a new, proprietary technology for oil extraction, is in a prime location for contributing to the booming U.S. shale oil market as it makes final arrangements for continuous operations at its…

Read More>>

More from NetworkNewsWire

About NetworkNewsWire

NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

To receive instant SMS alerts, text STOCKS to 77948

For more information, please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com