- Petrotech ramping up oil extraction in Utah through proprietary technology that could put it in industry-leading position
- Company expects full extraction level to show tech’s capability to clean oil sands in zero-harm loop that boosts environment, industry profits
- Petroteq plans to begin proof of concept with 1,000 bpd production in Q3, boost to 8,000 bpd by 2020 in region with nation’s largest oil sand deposits
For oil and gas industry technology developer Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF), the proof of its new nature-loving extraction technology is in the oil sand “asphalt” that it is beginning to harvest in Utah. Petroteq Energy is gaining recognition as the developer of a proprietary process for extracting crude fuels from the abundant Utah desert tar sands in a green technology, closed-loop system that uses solvents to remove the crude and return cleansed sand to its extraction point without any incidental pollutants.
The company has applied to uplist to the Nasdaq stock exchange and has launched a project in the meantime to extract up to 1,000 barrels of oil per day at the Asphalt Ridge site, putting its revolutionary technology to the ultimate test in a development that’s being watched by…
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