- Petroteq Energy is developing an oil extraction technology that has the potential to follow fracking as the “next big thing” in driving America’s energy independence
- Petroteq is developing its proof-of-concept extraction process in Utah’s east desert and recently established a benchmark for continuous production with the environmentally friendly technology
- The company began selling oil regionally in November and is building its heavy oil production to 1,000 barrels per day
The oil and gas industry has long worked to successfully manage profit margins while keeping the nations’ transport systems humming through the continual high and low fluctuations of global crude supply pricing. The advent of shale “fracking” as an alternative means of oil extraction has granted countries such as the United States a booming domestic supply of oil.
Technology developed by oil sands extraction innovator Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) could represent the next step in the development of oil extraction technology. Unlike fracking, or hydraulic fracturing, in which high pressure water and chemicals are injected into drilled wells to force open rock fractures and…
NOTE TO INVESTORS: The latest news and updates relating to PQEFF are available in the company’s newsroom at http://nnw.fm/PQEFF
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