Posted on 07/30/2015 3:59:22 PM PDT by bananaman22
Canada has given oil sands a dirty reputation, but a breakthrough, commercially viable technology has caught the eye of a former Exxon Mobil president who is putting it to use to clean up Utah’s billions of barrels of oil sands.
Imagine extracting high-quality oil out of the estimated 32 billion barrels buried in Utah’s oil sands, without creating the toxic wastelands that have resulted from oil sands projects in Western Canada. And imagine doing it at a cost that can still turn a profit in today’s oil price slump.
That would be highly enticing to some of the large operators in the Uinta Basin, Utah’s emerging tight oil play. As shale production has soared across the country, operators have moved to Utah to try to coax oil and gas from shale rock in ways that have been done on such a large scale elsewhere. Major players such as Marathon Oil (NYSE:MRO), EP Energy Corporation (NYSE:EPE) and Newfield Exploration Co. (NYSE:NFX) have significant exposure in Utah.
But Utah’s oil sands are suddenly attracting a lot more attention because of their vast potential. The poor environmental reputation and high cost has kept companies away up until now, but armed with a new, clean oil sands technology, there is even talk that Utah could shift its focus away from expensive shale.
(Excerpt) Read more at oilprice.com ...
Read the article, the solvent is the key but they never mentioned what it was.
Interesting
Do you know the exact recipe for coca-cola?
Dawn dish washing liquid.
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