University of Wyoming Enhanced Oil Recovery Institute Assisting Nikron Technologies With Identification of Potential Heavy Oil Production
PR Newswire
TOPEKA, Kan., Feb. 13, 2012
TOPEKA, Kan., Feb. 13, 2012 /PRNewswire/ -- Nikron Technologies, Inc. (OTC Pink: NKRN) has developed cutting edge technology which relates to high temperature steam generators for use in the production of heavy oil.
As much as 60-80% of oil contained in mainland U.S. reservoirs has been left behind because it was too difficult and expensive to extract up until now.
Nikron presents a cost effective solution to oil recovery which eliminates the costs and uncertainties associated with exploration and drilling by targeting these known fields with proven reserves by capturing this "left behind" oil.
The Wyoming University Enhanced Oil Recovery Institute (EORI) has as its mission maximizing economic potential for application of enhanced oil recovery so as to benefit Wyoming oil producers, increase oil production, and, in turn, increase tax revenues for the state.
The EORI was created and is financially supported by the Wyoming State Legislature. The governor appoints and the legislature confirms eight commissioners who serve on the Enhanced Oil Recovery Commission (EORC) to oversee EORI's financial and strategic planning (See www.uwyo.edu/eori).
EORI is dedicated to delivering relevant, topical solutions to producers in Wyoming so that benefits can be realized in a reasonable period of time. The Institute is primarily focused on application of new technology, and supports additional development work necessary to support commercial-scale implementation.
The Institute is working with Nikron in identifying and screening steam flood candidates within the state. To that end, EORI has prepared for the sole use of Nikron an initial reservoir screening report of applicable EOR steam flood candidates in Wyoming.
Max Gaither, Nikron Secretary, stated: "We are delighted to be working with the Institute. The use of their facilities and resources advances our operations manifold. Their abilities of professionalism are appreciated. They enjoy an outstanding reputation within the industry, and their over-all knowledge of the field is of invaluable assistance to us. They provide us with an expertise and depth of knowledge which is priceless."
