Skye Petroleum Inc (SKPO)

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Skye Petroleum, Inc. owns ten (10) chemistry’s for the treatment of paraffin, asphaltene and sludge in various applications throughout the oil industry. Skye is focused on both selling directly to oil and gas operators who treat their own wells, as well as through distribution channels. Skye Petroleum continues to distribute products through multiple channels in Pennsylvania, Texas and Alabama. Skye’s leading technology (Skye Chem Wax Dispersant or WD) is currently serving multiple purposes in the oil patch. Skye Chem WD is a calculated mixture of solvents, penetrants, non-emulsifying surfactants pour point depressants ("PPD") and dispersants. The WD is designed for rapid penetration into the granular areas of paraffin matrix and disrupts the cohesive binding, allowing the waxes to mix with the produced oil, thus allowing the oil to aid in dissolving the wax. The PPD and dispersants keep the wax from re-precipitating from the crude oil. The first chemistry acts as a wedge between the wax crystals breaking them apart and encouraging them to slide by one another. The second chemistry changes the polarity of the crystals to a like charge which makes them want to stay away from each other. The third is a crystal modifier which distorts the edges of the crystals making it very difficult for them to fit together. The combined action results in much greater flow through the production stream carrying harmful paraffin's out of the well bore maximizing production and reducing maintenance costs and down time.
In the first quarter of 2014, Skye acquired a patented technology for the removal of volatile phosphate from hydrocarbon based fracturing fluids. This will provide more diversification into Skye’s product offerings. Skye anticipates partnering in the future with another company for sales and marketing.
Skye has also developed a line of drilling and completion fluids with sales occurring in the Commonwealth of Pennsylvania in late 2014 and early 2015. Due to the drop in the price of oil, sales in the fourth quarter of 2014 and all of 2015-2016 slowed significantly as operators aggressively began cutting expenses and expenditures. Oil producers are forced to decide whether to spend money to treat wells with paraffin problems or let them go dormant until oil
prices are high enough to make economic sense.