Uinta Basin

Trio Petroleum Corp Announces an Option to Acquire a 20% Interest in the Asphalt Ridge Development Project in Utah

Retrieved on: 
Friday, January 5, 2024
Asphalt, Carbon sequestration, Work, Option, State, EPC, Mining, Public expenditure, Uinta Basin, Cretaceous, Engineering, Tertiary, CO2, Oil

Bakersfield, CA, Jan. 05, 2024 (GLOBE NEWSWIRE) -- Trio Petroleum Corp (NYSE American: TPET) (“Trio” or the “Company”), a California-based oil and gas company, today announced that it has secured an option (the “Option”) to acquire a 20% interest in a sweet (i.e., low sulfur content), heavy-oil development project at Asphalt Ridge, located near the town of Vernal in Uinta County in northeastern Utah. Development of Asphalt Ridge is planned to commence in Q1 2024 by a third party operator using advanced cyclic-steam production techniques. The project is estimated by an independent reserve engineering firm to be one of the largest heavy oil deposits in North America outside of Canada, making it a potential giant oilfield, and is unique given its low wax and negligible sulfur content, which is expected to make the oil produced very desirable for many industries, including shipping.

Key Points: 
  • Development of Asphalt Ridge is planned to commence in Q1 2024 by a third party operator using advanced cyclic-steam production techniques.
  • The project leasehold comprises over 30,000 acres and trends northwest-southeast, along the trend of Asphalt Ridge, over a distance of about 20 miles.
  • 1% working interest for each $100,000 option exercised) as well as an option to acquire a 20% working interest in Phase 2.
  • We now have two major assets in our portfolio, the South Salinas Project in California and the Asphalt Ridge Project in Utah.

Questerre reports third quarter 2023 results

Retrieved on: 
Thursday, November 9, 2023
Disclosure, Carbon, Economics, Uinta Basin, Red, Government of Quebec, Capital, QEC, Petroleum, Capital expenditure, GAAP, Natural gas, Permeability, OSE, TSX, Court, News, Environment, Legislation, Questerre Energy, ESG, Financial adviser, Oil, Real estate, Renewable energy, Aluminium

CALGARY, Alberta, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the third quarter ended September 30, 2023.

Key Points: 
  • CALGARY, Alberta, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the third quarter ended September 30, 2023.
  • In addition to their permit for a wax processing facility, they own the rights for carbon sequestration over 7,000 acres.
  • For the third quarter, daily production averaged 1,830 boe/d (2022: 1,629 boe/d) and for the nine months ended September 30, 2023, it averaged 1,866 boe/d (2022: 1,609 boe/d).
  • Capital expenditures in the quarter were $0.9 million (2022: $1.7 million) and $6.6 million year to date (2022: $9.4 million).

Ecoteq Energy ASA and Valkor LLC secure long-term agreements for production in Utah, USA

Retrieved on: 
Thursday, December 7, 2023
Framework, Hope, Construction, Engineering, procurement, and construction, Engineering, Uinta Basin, EPC, Oil

Civil works are scheduled to begin in April 2024, with an anticipated completion by Q2 2025.

Key Points: 
  • Civil works are scheduled to begin in April 2024, with an anticipated completion by Q2 2025.
  • "By 2025, we aim to commence the sustainable production of bitumen from our initial production unit, that will offer a level of eco-friendliness that we hope will have a positive contribution to global environmental efforts," states Lars-Erik Bengtsson, CEO of Ecoteq Energy.
  • The first production unit is expected to produce 500 barrels per day (bpd), based on an ore oil saturation of 10% by weight.
  • Our alliance with Valkor extends beyond this venture, as we foresee the joint development of additional prospects within the Uinta Basin," adds Bengtsson.

Ekinops Selected by Strata Networks for System-wide Upgrade

Retrieved on: 
Monday, November 13, 2023
Television, Euronext Paris, Wasatch Front, EKI, Carbon footprint, Uinta Basin, Telecommunications, Internet, NMS, Cable television, Online shopping, Stratum

Strata continues to expand and improve its fiber footprint to remain at the forefront of providing best-in-class residential and business services including phone, television, broadband Internet and mobile.

Key Points: 
  • Strata continues to expand and improve its fiber footprint to remain at the forefront of providing best-in-class residential and business services including phone, television, broadband Internet and mobile.
  • Strata's service area is characterized by difficult terrain and includes a diverse demographic including mid-sized urban and remote rural areas.
  • Celestis' easy-to-use interface gives Strata the ability to monitor, troubleshoot and upgrade services at any node from a centralized network operations center, minimizing truck rolls, helping Strata to reduce its carbon footprint.
  • For more information about the Ekinops360 portfolio, please visit https://www.ekinops.com/solutions/optical-transport
    For more information on Ekinops, visit http://www.ekinops.com/
    For more information on Strata, visit https://stratanetworks.com/
    All press releases are published after the close of trading on Euronext Paris.

USD Partners LP Announces Third Quarter 2023 Results

Retrieved on: 
Tuesday, November 7, 2023
Rail, Other Energy, Transport, Oil, Gas, Alternative Energy, Energy, Partner, NYSE Listed Company Manual, Sale, Bank, NYSE, Stroud, Bank of Montreal, SG, EBITDA, Quarter, Acquisition, Maintenance, Casper, Depreciation, Uinta Basin, Partnership accounting, Credit, Credit agreements in South Africa, Borrowing base, USD, Letter, Partnership, USDP, Bookkeeping, Cryptocurrency, Video game, Commercial property, Security (finance), Hardisty

USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and nine months ended September 30, 2023.

Key Points: 
  • USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and nine months ended September 30, 2023.
  • In October 2023, the customer elected to extend the terminalling services agreement through January 2024.
  • The Partnership had lower operating costs during the third quarter of 2023 as compared to the third quarter of 2022.
  • Adjusted EBITDA for the third quarter of 2023 decreased by 84% when compared to the same period in 2022 due primarily to the factors discussed above.

Fervo Energy Breaks Ground on the World’s Largest Next-gen Geothermal Project

Retrieved on: 
Monday, September 25, 2023
Other Energy, Utilities, Sustainability, Environment, Alternative Energy, Energy, Environmental Health, Green Technology, Environmental impact assessment, National Environmental Policy Act, Commander-in-Chief, Africa (Royal Navy), EA, Ministry of home affairs, Data collection, Environmental health, Multimedia, Research, Carbon, History, Government, Mineral, BLM, National Environmental Engineering Research Institute, Devon Energy, Helmerich & Payne, Growth, Entrepreneurship, Uinta Basin, Safety, Geothermal energy, Renewable energy, Fast food

Fervo Energy (“Fervo”), the leader in next-generation geothermal technology, today held a groundbreaking ceremony to mark the start of its exploration drilling campaign at Cape Station, a next-generation geothermal energy project set to deliver 400 MW of 24/7 carbon-free electricity.

Key Points: 
  • Fervo Energy (“Fervo”), the leader in next-generation geothermal technology, today held a groundbreaking ceremony to mark the start of its exploration drilling campaign at Cape Station, a next-generation geothermal energy project set to deliver 400 MW of 24/7 carbon-free electricity.
  • Geothermal innovations like those pioneered by Fervo will play a critical role in extending Utah’s energy leadership for generations to come.”
    Earlier this year, Fervo announced breakthrough result of its commercial pilot project, Project Red.
  • “Beaver County, Utah is the perfect place to deploy our next-generation geothermal technology,” said Tim Latimer, Fervo Energy CEO and Co-Founder.
  • Fervo Energy provides 24/7 carbon-free energy through the development of next-generation geothermal power.

Crusoe Announces Deal with XCL Resources in Uinta Basin

Retrieved on: 
Wednesday, August 30, 2023
Data Management, Technology, Environmental Health, Other Energy, Other Technology, Green Technology, Artificial Intelligence, Environment, Energy, Hardware, Sustainability, DFM, Flare, Partnership, Electricity, XCL, Multimedia, Carbon, Global warming potential, Natural gas, Methane, Uinta Basin, Renewable energy, Crusoe

Crusoe Energy Systems LLC (“Crusoe”) announced today a new collaboration with XCL Resources, LLC (“XCL”) to deploy Crusoe’s patented Digital Flare Mitigation® (DFM) technology to XCL in Utah’s Uinta Basin.

Key Points: 
  • Crusoe Energy Systems LLC (“Crusoe”) announced today a new collaboration with XCL Resources, LLC (“XCL”) to deploy Crusoe’s patented Digital Flare Mitigation® (DFM) technology to XCL in Utah’s Uinta Basin.
  • Under the agreement with XCL, Crusoe will add 6 million standard cubic feet per day of DFM capacity.
  • The project is projected to bring 100+ jobs consisting of both short and long term construction and operational employment opportunities to the Uinta Basin.
  • “We’re excited to extend Crusoe’s positive environmental impact into the Uinta Basin, and to significantly expand our capacity to reduce methane emissions,” said Cully Cavness, Crusoe’s Co-Founder and President.

USD Partners LP Announces Second Quarter 2023 Results

Retrieved on: 
Tuesday, August 8, 2023
Rail, Other Energy, Transport, Oil, Gas, Alternative Energy, Energy, Borrowing base, Maintenance, USDP, Partnership, Failure, Casper, SG, Partner, Credit agreements in South Africa, Calendar, Tax, USD, Sale, Partnership accounting, EBITDA, Acquisition, 2007 Texas constitutional amendment election, Investment, Depreciation, Credit, Uinta Basin, NYSE, Amendment, Material, Bookkeeping, Lease, Bank, Video game, Security (finance), Hardisty

USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and six months ended June 30, 2023.

Key Points: 
  • USD Partners LP (NYSE: USDP) (the “Partnership”) announced today its operating and financial results for the three and six months ended June 30, 2023.
  • The Partnership achieved lower operating costs during the second quarter of 2023 as compared to the second quarter of 2022.
  • The Partnership generated net income of $4.6 million in the second quarter of 2023 as compared to net income of $3.8 million in the second quarter of 2022.
  • The Partnership also recognized a lower foreign currency transaction loss in the second quarter of 2023, as compared to the second quarter of 2022.

USD Partners LP Announces Short-Term Agreement at Stroud Terminal

Retrieved on: 
Wednesday, June 28, 2023
Trucking, Rail, Other Energy, Oil, Gas, Transport, Alternative Energy, Energy, NYSE, USD, USDP, Cushing, Partner, Uinta Basin, TSA, Lease

USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into a three month rail-to-truck Terminalling Services Agreement (“TSA”) with a new, third party customer at the Partnership’s Stroud, Oklahoma terminal (the “Stroud Terminal”).

Key Points: 
  • USD Partners LP (NYSE: USDP) (the “Partnership”) announced today that it has entered into a three month rail-to-truck Terminalling Services Agreement (“TSA”) with a new, third party customer at the Partnership’s Stroud, Oklahoma terminal (the “Stroud Terminal”).
  • The short-term agreement includes take-or-pay provisions with a minimum volume commitment.
  • The customer is entering into the agreement as a trial period to test the Stroud Terminal as a destination for its waxy crude oil production out of the Uinta Basin.
  • “As previously discussed during our first quarter 2023 earnings call, we are excited about this new business opportunity and the re-purposing of our Stroud Terminal to handle waxy crude from the Uinta Basin,” said Brad Sanders, USD Group’s Chief Commercial Officer.

Red Leaf partners with Ute Tribe for Uinta Basin Upgrader Project

Retrieved on: 
Tuesday, January 31, 2023
Ute, SALT, Red Leaf Resources, Red Leaf, EIA, Black, Marketing, Oil, Uinta Basin

SALT LAKE CITY, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Red Leaf Resources, Inc. (“Red Leaf” or the “Company”) is pleased to announce it has entered into a collaboration agreement to advance its upgrader project in the Uinta Basin in the state of Utah.

Key Points: 
  • SALT LAKE CITY, Jan. 31, 2023 (GLOBE NEWSWIRE) -- Red Leaf Resources, Inc. (“Red Leaf” or the “Company”) is pleased to announce it has entered into a collaboration agreement to advance its upgrader project in the Uinta Basin in the state of Utah.
  • Red Leaf recently signed an agreement with Ute Energy Exploration and Marketing LLC (“Ute Energy”) a wholly-owned subsidiary of a federally recognized Indian tribe in the United States to jointly develop its assets in the Uinta Basin in Utah.
  • Michael Binnion, Chairman of Red Leaf, noted, “We are honored to partner with the Ute tribe.
  • The refinery plans to source its raw crude from the Uinta Basin particularly the Black and Yellow Wax crude produced locally.