Would like to alert fellow SI members of a company with terrific technology claims. Also would like to see if anyone else is following this one.
Story in a nutshell:
After an oil producer drills and finds oil ( I understand that has about 70% of succeeding today), a well with a traditional pump will avg. 100 barrels/day for yr 1, 50- yr 2, then as low as 10-15 after about 2 yrs. (these are rough numbers) There are actually over 5mil. of these wells called "stripper wells" in the U.S. today
Depending on the price of oil, and a companies efficiency, it will become UNeconomical for a company to continue pumping these wells once they yield 10-15 brls/day. Today, the standard cost to run pumps at these yields ranges from $10-14. (price for oil today is going for about $19/ brl.
Nutek (NUTK) has a proprietary pump that can produce oil from the stripper wells at about $1.60 - $2.00 a barrel. They are currently in the process of working the bugs out of the current generation of prototypes. (I believe they have been running since early 1995
Deped |
