Cobra Oil & Gas Announces Technical Update On Utah Oil Sands Project
August 24, 2009 Filed Under: Oil and Gas
Cobra Oil & Gas Company announce that the company has been granted a non-exclusive license to utilize the In-situ Combustion (ISC) for use on the Utah Oil Sands Project. Subject to the terms and conditions of the agreement, Enercor Inc. (Enercor), hereby grants Cobra a non-exclusive, non transferable license to use ISC for the purpose of extracting oil from heavy deposits in which Cobra has a direct contract interest at the time of employment of the ISC technology.
“We are excited to have acquired the license for utilization of ISC,” said Max Pozzoni, Cobra’s President. “This is one of the most effective technologies for oil sands extraction which will allow us to get closer to our goal of producing from our Utah Oil Sands Project.”
ISC works as an enhanced oil recovery utilizing conventionally drilled wells, with one well designated for injection, and multiple surrounding wells for oil production, or recovery. Upon completion of the wells, heat is introduced into wells designated as injection wells, which mobilizes the oil in place for free flow and pumping.
Along with the added ease of flow, the heat from the combustion adds to the economic benefits through upgrading the oil to a lighter grade. The heat cracks the crude hydrocarbons, vaporizes the lighter hydrocarbons, and deposits the heavier hydrocarbons as coke. The process results in the oil becoming a more suitable feedstock for refining purposes, which potentially enhances the marketability of the end product to a refiner.