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PetroTech to Resume Drilling Operations After Weather Shutdown
PetroTech to Resume Drilling Operations After Weather Shutdown.
About this update from Petrotech Oil & Gas Inc
[{"type":"text","content":"\n \n \n PetroTech to Resume Drilling Operations After Weather Shutdown\n \n \nPetroTech to Resume Drilling Operations After Weather Shutdown\n \n BEDFORD, TX--(Marketwired - Feb 13, 2014) - PetroTech Oil and Gas, Inc. (OTC Pink: PTOG) (the \"Company\" or \"PetroTech) announced today it is once again operational in its Enhanced Oil Recovery (EOR) project on the Brown lease in the Bartlesville zone in northeast Oklahoma. Harsh weather conditions throughout the Midwest in the first half of February forced a temporary shutdown in the Company's drilling operations. Cement casing will be poured on Thursday, and hopefully shoot the well a few days after if the weather holds out. Production is back online, and despite the most difficult winter in ages, the project is on-schedule with 4 Phase I wells currently producing gas at 40 MCF per day, and 18 additional Phase II wells forecasted to be operational in the coming months. Current production follows a successful revitalization program including all access roads, tank battery and well sites; repair or replacement of all electrical systems; installation of a triplex injection pump for proper wastewater disposal; and completion of a Manual Integrity Test (MIT) required for state inspection approval. \n \"Our teams' commitment to keeping this project on schedule, despite the extremely difficult winter, demonstrates why we are quickly becoming a leader in the stranded oil recovery market,\" states the Company's President, Eddie Schibb. \"With our infrastructure now in place and our Phase I wells producing, we move into Phase II where we will use our proprietary injection methods to triple gas production, and pressure up the oil zone to support 18 additional wells.\"\n The Bartlesville zone is a sandstone layer that sourced up to 53,000 barrels of oil a day during its peak production in the late 1900s. While concentrated production efforts by major oil companies has depleted some of the oil and much of the gas drive, geological data supports that much of the oil is still in place but will not move to the producing well bores without some type of energy input. According to Kim Drew, Consulting Geologist with CAVU Energy Services, Inc., \"Recent core data of these old Bartlesville fields indicate that only 10 to 30 percent of the original oil in place has been produced by the initial producti...