SUGAR LAND, Texas, Feb. 24, 2014 /PRNewswire/ -- Skye
Petroleum, Inc. (Pink Sheets: SKPO) is pleased to announce that it
has acquired (from a private company) a patent recently issued by
the U.S. Patent and Trademark Office. The patented technology
provides a method to selectively remove volatile phosphates from
hydrocarbon based fracturing fluids used to stimulate certain crude
oil and gas wells. The source of volatile phosphates found in
fracturing fluids originates from certain additives that are part
of the fracturing fluids' formulation. Additionally, the use
of the technology has shown secondary benefits including clarifying
and removing certain contaminant metals from hydrocarbon
fluids.
The geological properties of oil and gas reservoirs determine
whether water based fracturing fluids or hydrocarbon based
fracturing fluids can be used. Once an oil or gas well has
been successfully fractured using hydrocarbon based fracturing
fluids, the well is allowed to flow and the fracturing fluid is
recovered and collected. The collected flow back can then be
treated to remove the additives and contaminants to meet industry
specification standards. The recycled, cleaned and clarified
hydrocarbon fluid can then be sold and reused as a fracturing
fluid, or sold as a marketable hydrocarbon liquid to a refinery for
processing. Where recycling is unavailable, the flow back
fluids are typically blended with crude oil and shipped to
refineries as feedstock. Refineries are reporting that they
are experiencing fouling issues directly related to the presence of
volatile phosphates within their crude oil feedstock, resulting in
higher maintenance costs and a reduction in process throughput
efficiency.
Gerald Weber, CEO of Skye
Petroleum, stated, "We are excited to be able to provide a solution
that can solve this ongoing problem with hydrocarbon based
fracturing fluids. We anticipate focusing our
commercialization efforts of the technology towards the fracturing
fluid recycling industry, and towards the oil refining
industry. We plan to enter discussions with a strategic
partner or partners as we introduce this technology into different
regions."
Skye Petroleum, Inc. is a publicly traded corporation, listed on
the "OTC Pink Current Information" tier on the OTC Markets Group
Inc. electronic quotation venue, under the trading symbol,
SKPO.
SOURCE Skye Petroleum, Inc.
