This is the interpretation of the PR from a friend.
the protocols developed for EOR (Enhanced Oil Recovery) on shallow (<1000 ft) wells using Catholyte appear to be working... and very well from the ratios given.
Based on the ratios, if you assume initial return of 1BOD (99/1) has increased to 40BOD (60/40), that is an increase from $63.58 to $2,543.20 per day for the operator.
You have also decreased the amount of produced water that has to be treated or disposed of which means saving $$$ on that end as well
So a win-win for the operator.
If the report is in fact released and data verifies the increase in production and decrease in produced water, this would be huge for PCTL and shareholders.(edited)
[10:48 AM]
Some info for stripper wells (less than 15 BOD) from wiki...
In the United States in 2015, 11% of crude oil produced comes from a marginal oil well, and over 85 percent of the total number of U.S. oil wells are now classified as such. There are over 420,000 of these wells in the United States, and together they produce nearly 915,000 barrels (145,500 m3) of oil per day, 18 percent of U.S. production.
Additionally, as of 2006, there are more than 296,000 natural gas stripper wells in the lower 48 states. Together they account for over 1.7 trillion cubic feet (4.8×1010 m3) of natural gas, or about 9 percent of the natural gas produced in the lower 48 states. Stripper wells are more common in older oil and gas producing regions, most notably in Appalachia, Texas and Oklahoma.
A stripper well may cost between $10 to $30 per barrel to operate, averaging $2,000 per month.
Sounds like a no brainer for )GIf the report is in fact released and data verifies the increase in production and decrease in produced water, this would be huge for PCTL and shareholders.(edited)
[10:48 AM]
Some info for stripper wells (less than 15 BOD) from wiki...
In the United States in 2015, 11% of crude oil produced comes from a marginal oil well, and over 85 percent of the total number of U.S. oil wells are now classified as such. There are over 420,000 of these wells in the United States, and together they produce nearly 915,000 barrels (145,500 m3) of oil per day, 18 percent of U.S. production.
Additionally, as of 2006, there are more than 296,000 natural gas stripper wells in the lower 48 states. Together they account for over 1.7 trillion cubic feet (4.8×1010 m3) of natural gas, or about 9 percent of the natural gas produced in the lower 48 states. Stripper wells are more common in older oil and gas producing regions, most notably in Appalachia, Texas and Oklahoma.
A stripper well may cost between $10 to $30 per barrel to operate, averaging $2,000 per month.
Sounds like a no brainer for O&G companies to me.
Can't wait for the full report
