Global Resource Corporation Announces Gasification Technique to Unlock Resid Oil

Global Resource Corporation announced today that they will commence Phase II testing to produce valuable energy byproducts from resid oil, a material that remains after crude oil is distilled. The new tests will prove that the company’s patent pending process can derive upgraded oil and gas from resid oil, drastically increase the price per barrel of the material and avail the possibility of producing oil from capped oil wells, which are now considered non-retrievable, across the country.

The Department of Energy estimates that when a producing well is capped, what remains in the 400,000 capped wells in the USA is 60% to 65% of heavy oil. This remaining oil is not considered a reserve but rather ‘not retrievable.’ Using Global Resource’s process, that oil could be retrievable and committed to the United States’ domestic energy needs, currently at 21 million barrels per day.

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