- Renovated Asphalt Ridge facility is good to go
- Output capacity now 1,000 barrels per day
- International promotion of blockchain oil and gas supply management platform continues
Blessed by an abundance of bitumen, Utah has become the center of the U.S. oil sands industry. The state has the largest individual deposits of bitumen in the United States, as well as the highest number of oil sands occurrences. Together, these bitumen deposits contain a yield equivalent to at least 30 billion barrels of oil, making Utah the source of 55 percent of U.S. oil sand crude. The deposits are primarily located in central southeastern Utah and the Uinta Basin of northeastern Utah. In the latter location, Petroteq Energy Inc. (TSX.V: PQE) (OTCQX: PQEFF) is working its Asphalt Ridge property. The company is applying its patented liquid extraction system to refine bitumen – technology that’s set to get the dilbit (diluted bitumen) flowing more freely in Utah.
Dilbit is bitumen to which either conventional light crude or natural gas liquids have been added to reduce viscosity. Bitumen, a type of crude oil found in natural oil sands deposits, is too thick to be pumped through pipelines as extracted. Consisting of sand, water and oily compounds, bitumen is the heaviest sort of crude in use today, more deserving of the label ‘tar’ than ‘oil’. Extracted bitumen is said to look...
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