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Aug 4, 2015 — Successful and proven well enhancement/stimulation program for wells on land that can be acquired at very competitive prices. This application will be utilized to extract oil from wells no longer producing commercial quantities and/or to increase production from underperforming wells.
Performance has been proven and documented with thousands of hours of successful field experience. Oil can be recovered at a significantly lower cost per barrel than conventional methods and with a significant reduction in both risk and environmental impact.
The key to the success for these projects is to buy existing developed oilfields, with large remaining, recoverable reserves, equipment and existing wells; at a significant discount to original invested value. Next, use effective, enhanced oil recovery technologies and skilled management to lift new incremental production at cost of less than $20 per barrel. In some cases significantly less.
The lower the cost of oil, the lower the cost of acquiring appropriate properties.