Glori Energy is an energy technology and oil production
company leveraging its proprietary AERO™ technology to increase the amount of
oil that can be produced from conventional wells. In addition to using the
technology on its own U.S. oil fields, the company is currently providing its
innovative system as a service to exploration and production firms around the
globe. To date, the AERO platform, which represents more than 60 years of
successful research in the application of biotechnology to oil recovery, has
accounted for the production of millions of barrels of otherwise unattainable
oil.
In recent months, low oil prices have led to significant
drops in earnings for some of the industry’s biggest players – including Exxon
Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX) – further
demonstrating the importance of cost-effective production methods. However,
according to industry reports, only about one-third of all oil discovered in a
typical reservoir is recoverable using conventional techniques.
Glori’s AERO system addresses this inefficiency by
stimulating the reservoir’s naturally-occurring microbes in order to create
pockets of biomass. These pockets, which form in trapped oil deposits, force
dynamic and continuous changes of water flow patterns during secondary oil
recovery methods, effectively creating additional pathways for oil to reach the
surface. When used during water injection, Glori’s AERO technology has been
shown to increase incremental recovery by as much as 12 percent, making it the
most cost-effective, successful enhanced oil recovery technology available on
the market.
In July, Glori announced that it had commenced the nutrient
injection phase of AERO implementation at its Coke Field project in Wood
County, Texas, marking the company’s first significant deployment on one of its
own oil fields. Moving forward, Glori will look to build on this progress
through adherence to an aggressive growth strategy centering on the acquisition
of mature producing oil properties with favorable characteristics for AERO
implementation. In the second quarter of 2015, Glori utilized this strategy to
acquire its newest project, Bonnie View Field in South Texas.
“Bonnie View has over 30 million barrels of oil remaining,
with less than 40 percent recovery factor in an extremely high-quality
reservoir,” Stuart Page, chief executive officer of Glori, stated in a news
release. “This provides an attractive target for AERO, and we believe that we
will be able to economically recover over six million of these barrels.”
For more information, visit www.glorienergy.com
MissionIR is committed to connecting the investment community with companies that have great potential and a strong dedication to building shareholder value. We know our reputation is based on the integrity of our clients and go to great lengths to ensure the companies represented adhere to sound business practices.
Sign up for “The Mission Report” at www.MissionIR.com
Please see disclaimer on the MissionIR website http://www.missionir.com/disclaimer.html
