Planet Resource Recovery Expands Enhanced Oil Recovery Efforts
Planet Resource Recovery, Inc. announced that the company is expanding its Enhanced Oil Recovery (EOR) efforts due to increasing demand for services after successful well treatments of marginal wells. Treatment of marginal wells with PetroLuxus MMMF is realizing increased production of 150 to 500 percent of additional oil production. The company is currently scheduled to treat fifteen wells over the next six weeks. Treatment of PetroLuxus and injection service costs range between $9,000 and $17,500 per well.
The US Department of Energy's Office of Fossil Energy estimates that "more than 60% of all known oil reserves in the United States remain untapped because of difficulties in extraction from the ground." These huge untapped oil supplies are difficult to extract due to the oil held in place by molecular forces of cohesion and adhesion. Technologies to increase extraction of oil held in place are known as the Enhanced Oil Recovery (EOR) industry. The EOR industry aims to increase extraction in marginal wells where oil production has slowed to 15 barrels a day or less. According to The Office of Fossil Energy, "There are nearly 500,000 of these wells in the US, and together they produce about the same amount of oil as America imports from Saudi Arabia."
- Planet Resource Recovery Expands Enhanced Oil Recovery Efforts (Apr 14)
- New Oil Well Solution Promises to Increase Oil Production (Jan 10)
- PetroLuxus Treatment Could Increase Production from Low Yield Wells (Jul 19)