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
