Trump's Secret Weapon in the Oil War
LONDON, July 9, 2018 /PRNewswire/ --
'Heavy Oil' is basically a dirty phrase in the energy world. But that's all about to change. Mentioned in today's commentary includes: Suncor Energy (NYSE:SU), Enbridge, Inc (NYSE:ENB), Pembina Pipeline Corp. (NYSE:PBA), Franco-Nevada Corporation (NYSE:FNV), Helmerich & Payne (NYSE:HP).
Tech company Petroteq Inc. (PQE.V [https://finance.yahoo.com/quote/PQE.V?p=PQE.V&guccounter=1 ]; PQEFF [https://finance.yahoo.com/quote/PQEFF ]) is using a new proprietary Enhanced Oil Recovery (EOR) system that could completely revolutionize oil sands extraction. Through a closed-loop system, Petroteq's EOR can extract 99 percent of all hydrocarbons without releasing ANY greenhouse gases.
At their Asphalt Ridge property in Utah, Petroteq is sitting on a contingent deposit of 86 million barrels, worth $6.2 billion at today's prices for as little as $28 per barrel...and their extraction facility is now fully operational [https://finance.yahoo.com/news/petroteq-unveils-asphalt-ridge-oil-134000111.html ].
The Big Picture-- Scattered throughout Utah, Colorado, and Wyoming are oil sands deposits equal to 1 trillion barrels. There are trillions more locked away in deposits around the world. And Petroteq's proprietary oil tech can get to it.
Petroteq's secret is its technology. The patented Liquid Extraction System is the first successful method ever tested that can extract the heavy oil sands of Utah in an environmentally safe and sustainable manner.
The licensing opportunities for Petroteq's proprietary technology are staggering. Heavy oil drillers around the world will likely be lining up to use their methods, which could unlock trillions of barrels of heavy oil locked in oil sands worldwide.
6 Reasons to Watch Petroteq (PQE.V [https://finance.yahoo.com/quote/PQE.V?p=PQE.V&guccounter=1 ]; PQEFF [https://finance.yahoo.com/quote/PQEFF ]):
#1 Breakthrough Oil Sands Technology
In previous years, Canada's "tar sands" have gotten a bad reputation from investors. High costs and environmental concerns have forced many oil majors to exit as the oil price crash of 2014-2016 made production prohibitively expensive, despite the region being one of the largest petroleum deposits on earth.
But Petroteq is getting ready to change everything, particularly for dry oil sands like those in the American west. Technological advances such as their patented Liquid Extraction System will become a key focus for revolutionizing the economics of U.S. oil sands deposits.
Petroteq's system produces oil and leaves behind nothing but clean, dry sand that can be resold as frack sand or construction sand or simply returned to Mother Nature. Better still - it is expected to achieve production costs of as low as $28/barrel for volume production. The end results:The extracted crude oil is free of sand and solvents and then pumped out of the system into a storage tank. According to Petroteq Chairman and CEO Aleksandr Blyumkin, "no other company has what we have in this space." Their technology is already proven in test results! Petroteq has already extracted 10,000 barrels of oil at their original plant. And after months of testing, the new plant is now fully up and running [https://finance.yahoo.com/news/petroteq-unveils-asphalt-ridge-oil-134000111.html ].
#2 Unlocking 1.2 Trillion BOE in the U.S. Alone
Utah has more than half of all U.S. oil sands deposits: 32 billion barrels of oil equivalent (BOE) waiting to be extracted from 8 major deposits. The deposits have access to fantastic infrastructure. Five major refiners are nearby, and truck routes can deliver product quickly to Salt Lake City.
Until now, the major problem facing the oil sands was economics. The price of oil was simply too low. But Petroteq's patented oil extraction technology could tap this overlooked resource at shockingly low costs.
Petroteq acquired Asphalt Ridge for $10 million, giving it the rights to exploit a huge deposit of an estimated 86 million boe of bitumen in eastern Utah. At current oil market prices, the field's oil has gross value of up to $6.2 billion. That's huge news for a company with a $60 million market cap.
But the real opportunity is bigger than that. The potential for mass application of Petroteq's (PQE.V [https://finance.yahoo.com/quote/PQE.V?p=PQE.V&guccounter=1 ]; PQEFF [https://finance.yahoo.com/quote/PQEFF ]) new technology is vast.
Utah, Colorado and Wyoming together hold about 1.2 trillion boe in oil sands and shale, worth a combined $72 trillion at current market prices. Plus, there are more than 20 countries around the world with sizable oil sands deposits just like Asphalt Ridge. Canada alone has more than 100 billion BOE of oil sands, worth $6 trillion. Worldwide, oil sands deposits are estimated at 500 billion BOE.
Petroteq plans to license its tech to companies around the world, raking in hefty licensing fees and expanding its revenue base. But it will also expand its resource base on an opportunistic basis while prices are low. #3 Petroteq Aims to Revolutionize Energy Supply Chains with Blockchain
Petroteq's EOR technology isn't their only licensing opportunity. The company also plans to break out another game-changing technology: blockchain. Petroteq has its very own blockchain subsidiary, PetroBLOQ, which is developing the very first blockchain-based platform exclusively for the oil and gas supply chain. And it can be applied GLOBALLY, to the entire oil and gas chain, from well to tanker to gas pump.
PetroBLOQ is already attracting major attention:
It was cited by Geoffrey Cann, director at Deloitte specializing in oil and gas, as a contender for best blockchain tech in the energy sector. Ultimately, if widely adopted, its blockchain platform could end up involved in every single transaction in the oil and gas supply chain-upstream, midstream and downstream.
#4 Management Has Major Skin In The Game
The management at Petroteq (PQE.V [https://finance.yahoo.com/quote/PQE.V?p=PQE.V&guccounter=1 ]; PQEFF [https://finance.yahoo.com/quote/PQEFF ]) is head and shoulders above the rest: they know the energy world and the world of blockchain inside and out.
More importantly, they've got their own money in the game: they're betting on themselves to win. Chairman Alexsander Blyumkin has invested millions of his own money in the business.
Founder and CTO Dr. Vladimir Podlipskiy is a 23-year veteran in chemistry, R&D and manufacturing, and a chemical scientist from UCLA. He's the oil tech genius with a line-up of patents for everything from oil extraction and mold remediation to fuel reformulators.
President, Jerry Bailey joined Petroteq after retiring from Exxon as president of the Middle East region. He has been the face of the company for a long time - often providing energy industry advice to CNBC, CNN and Fox Business.
Chief Geologist Donald Clark, PhD, is a geologist and consultant with a wide-range of publications. Even better, he's a blockchain tech mastermind. Together, the management team at Petroteq combines the skills, experience and innovation necessary to bring the company's ambitious plans to fruition.
#5 One Flashpoint Away from $100 Oil
OPEC is considering a boost to production, but it won't be enough to cover collapsing production in Venezuela and Libya. Petroteq's resource is exactly the type of heavy oil that is needed in the market, as Venezuela's production decline has refineries looking for more heavy oil. This void in the regional market might mean that Petroteq's oil might sell on par or at a price very close to WTI.
Saudi officials are eyeing $100 for the Saudi Aramco IPO. But it's possible oil prices could scoot even higher, as production bottlenecks in the Permian Basin slow down the growth of U.S. shale.
Prices are pointing upwards, and that would make the Petroteq (PQE.V [https://finance.yahoo.com/quote/PQE.V?p=PQE.V&guccounter=1 ]; PQEFF) oil sands play even more valuable.
#6 Trump's $1.7 Trillion Infrastructure Plan
Now is the time to pay attention to Petroteq for a single big reason - the likely imminent spike in demand for heavy oil. President Donald S. Trump has announced a $1.7 trillion infrastructure plan.
Billions of dollars will be deployed to rebuild U.S. infrastructure and infrastructure construction requires exactly the kind of heavy oil that Petroteq can produce from oil sands. Petroteq is an approved government supplier - and may generate revenues by selling the raw bitumen ore to roadbuilders.
Not only that - but Petroteq is the only known company with the technology to tap trillions of barrels of "trapped" heavy oil in Utah, Colorado and Wyoming.
The U.S. is positioned to become the world's dominant energy producer. And it's all thanks to innovation from companies like Petroteq (PQE.V [https://finance.yahoo.com/quote/PQE.V?p=PQE.V&guccounter=1 ]; PQEFF [https://finance.yahoo.com/quote/PQEFF ]).
Other companies to watch as tech takes over the oil industry:
Suncor Energy (NYSE:SU )(TSE:SU): If the next shale boom truly is to be in the oil sands then giants like Suncor is sure to do well out of it. While many of the oil majors have given up on oil sands production - those who focus on technological advancements in the area have a great long-term outlook.
Enbridge, Inc (NYSE:ENB), based in Canada's oil sands capital Alberta, is an energy delivery company focusing on transportation, distribution, and generation of energy. Operating in the United States and Canada, Enbridge owns and operates the largest natural gas distribution network in Canada and the longest crude oil transportation system in the world. Founded in 1949, investors can feel confident in Enbridge's experience and market know-how.
Pembina Pipeline Corp. (NYSE:PBA): The North American pipeline industry had a tough 2017, but the recent approval of the Keystone XL pipeline route and the growing need for transportation capacity should act as a boon for the sector.
Franco-Nevada Corporation (NYSE:FNV) specializes in securing precious-metal streams, but the company also works in the oil and gas industry. With key assets in some of North America's most desirable oil and gas plays, including Texas, Oklahoma and Alberta, it is clear that the company has amazing potential in the coming years.
Helmerich & Payne (NYSE:HP) is a petroleum contract drilling company based in Tulsa. The company has been in operation since the 1920's so it has definitely seen oil prices rise and fall, remaining resilient the years. The company's FlexRigs have changed the face of shale drilling.
By. Ian Jenkins
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Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this release include that PETROTEQ will be able to produce oil as currently scheduled, at the rates of production announced and at the targeted low prices from its Utah property; that PETROTEQ will successfully develop a blockchain supply chain solution for the oil industry; that it will have customers and contracts for its supply chain technology; that oil will be as much in demand in future as currently expected; that PETROTEQ's technology is protected by patents and that it doesn't infringe on intellectual property rights of others; that PETROTEQ will find licensees for its technology and that it can patent its technology in many countries; that PETROTEQ's technology will work as well as expected; that blockchain technology will help PETROTEQ create a supply chain management system which can handle all transactions; and that PETROTEQ will be able to carry out its business plans. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include that the Company's patents and other technology protection are not valid, patents may not be granted in countries where PETROTEQ wants to license its technology; production of oil may not be cost effective as expected, technology development costs may be much higher than expected, there may be construction delays and cost overruns at the production plants, PETROTEQ may not raise sufficient funds to carry out its plans, changing and increased costs for extraction and processing; technological results based on current data that may change with more detailed information or testing; blockchain technology may not be developed to be as useful as expected and PETROTEQ may not achieve its business plans; competitors may offer better technology; and despite the current expected viability of its projects, that the oil cannot be economically produced with its technology. Currently, PETROTEQ has no revenues.
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