- Petroteq set to begin production in weeks, reaching 1,000 barrels per day in Utah in the third quarter of this year
- Utah mineral lease expected to yield about 86 million barrels of oil equivalent over its lifetime
- Company president foresees significant profit pathway as oil costs approach $80 per barrel
Oil and gas industry technology developer Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is fueling rising expectations regarding its resource potential as its oil sands extraction project in Utah continues to evolve.
Petroteq announced at the beginning of the month that it is on track to initiate operations prior to the end of the second quarter of 2018, and the full financial benefit of 1000 bbl/d production is on track to be realized in the second half of 2018. The company has been testing its extraction process to increase…
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