Hybrid Energy to Increase Production Efficiency and Reduce Carbon Emissions With Breakthrough Gas-to-Oil Technology
20 Maggio 2010 - 2:30PM
Marketwired
Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) announced today it
has begun development and property integration plans using
innovative technology that will convert flare gas, a byproduct of
oilfield production, so named because it is commonly disposed of by
continuous burning during drilling operations, into a synthetic and
commercially viable form of crude oil.
This technology not only will increase the Company's production
efficiencies and profitability, but once installed, it represents a
technology that can be licensed to gas and oil producers globally,
thereby increasing the Company's revenue and shareholder value.
Natural gas, a valuable natural resource, is emitted in great
quantities as a consequence of oil extraction only to be thrown
away like garbage. When underground oil is subjected to high
pressure, gas dissolved in the liquid escapes through a separate
pipeline valve that reaches the surface. Yet, the practice of
combusting this "associated gas" as quickly as possible (i.e. gas
flaring) has become standard for decades in oilfields too remote
from potential markets or transport infrastructure to take
advantage of the fuel's value. Official estimates place the global
amount of gas squandered in this way annually at 1/4 of the natural
gas consumption in the US.
Though technology does exist for converting this gas into liquid
crude oil, it is currently too costly and cumbersome to be
efficient in a wide range of gas and oil production facilities. The
development of viable gas-to-oil technology would not only provide
revenue that would offset the costly trial-and-error stage of oil
drilling, it would solve offshore drillers' problem of what to do
with excess gas.
Since 2002, gas flaring has come under worldwide scrutiny
because of its significant contribution to global warming. The
World Bank's Global Gas Flaring Reduction Partnership (GGFR)
estimated in 2009 that 1.5% of the world's carbon emissions come
exclusively from gas flaring. Any technology that reduces carbon
emissions by that magnitude is a benefit for the entire planet. Oil
from surplus gas could supplement profits for unconventional oil
projects such as shale oil and oil shale, of which the world will
only be seeing more of in the future.
The Company is actively involved in various stages of acquiring
numerous energy production properties and increasing production on
its current holdings. Additionally, the Company is analyzing
various technologies that will improve the production efficiencies
of its gas and oil production, while at the same time reduce its
carbon footprint.
Most recently the Company announced its planned acquisition of
proven, untapped reserves of Natural Gas divided between two wells.
The estimated value of this acquisition is approximately
$30,000,000.
The Company recently announced that its production levels had
increased 864% year over year; and expects further increases in
production levels and increases in revenue and shareholder
value.
The Company's portfolio consists of multiple energy production
properties consistently delivering profitably and strong recurring
cash-flows. The company's current holdings include 35 Billion Cubic
Feet of reserves and produces from an estimated $30,000,000 in
active reserves and an additional estimated $145,000,000 in
available reserves.
The company has acquisitions currently under consideration and
when completed are expected to bring the company's portfolio value
above $200,000,000 in proven energy reserves.
About Hybrid Energy Holdings
Hybrid Energy Holdings (HEH) acquires and operates profitable
energy companies with strong historical cash-flow and sustainable
profitability. HEH's acquisitions are focused primarily on
traditional and proven fuel production and the latest in energy
conservation and power co-generation technologies. HEH may acquire
nascent energy technology or rights as portfolio enhancing assets.
HEH's primary business strategy is the acquisition of diverse,
profitable energy related assets that provide synergistic profits
and revenue enhancements across all portfolio companies.
HEH believes its combination of profitability and mitigated-risk
funding structures provides long-term shareholder equity
appreciation.
The company maintains its web site at:
www.HybridEnergyHoldings.com
Safe-Harbor Statement
This release contains statements or projections regarding future
performance that are forward-looking statements as defined in the
Private Securities Litigation Reform Act of 1995. Actual results
may differ materially from those projected as a result of certain
risks and uncertainties. The company's disclosures contain various
RISK FACTORS (and are incorporated herein by reference) and should
be read before any investment decision.
Contact: Investor Relations Tel: +1 (775) 636-7602 +1 (775)
636-7602 Fax: +1 (775) 996-7330 info@hybridenergyholdings.com
Hybrid Energy Holdings
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