HOUSTON, Dec. 7, 2015 /PRNewswire/ -- Glori Energy
Inc. (NASDAQ: GLRI), an energy technology and oil production
company focused on enhanced oil recovery using its proprietary
AERO™ System, today announced its participation in a new joint
industry project that will run a sequence of laboratory tests (core
floods) to assess the potential for biotechnology to help improve
the efficiency and effectiveness of heavy oil production.
The goal of the joint industry partnership is to evaluate AERO's
potential for increasing heavy oil recovery in Alberta, Canada. The partnership is funded by
the Government of Alberta and
Canadian E&P companies, with laboratory study support and
assessment provided by Alberta Innovates – Technology Futures. The
first-year work plan is focused on determining the efficacy of this
novel technology in a controlled, unbiased setting.
The AERO System, developed by Houston-based Glori Energy in conjunction with
Statoil A.S., is a highly efficient biotechnology process for
increasing oil recovery from existing reservoirs. Currently, only
one-third of all oil discovered in a typical reservoir is
recoverable using conventional technologies; the rest remains
trapped. Typically, this recovery factor is significantly less in
heavy oil reservoirs. If successful, AERO would increase the amount
of oil recovered, lower the average cost per barrel and reduce the
environmental impact of producing heavy oil.
AERO recovers trapped oil by stimulating a reservoir's native
microorganisms to sustainably increase the ultimate incremental
recovery. Glori applies its technology to fields the company
acquires and redevelops onshore in the U.S., and it also provides
its AERO System as a service to third-party exploration and
production companies.
"Glori is excited to work with the Government of Alberta and leading oil companies in this
partnership," said Michael R. Pavia,
Ph.D., Chief Technology Officer of Glori. "We look forward to
further broadening our technology platform through this
collaboration and helping with the recovery of heavy oil in
Canada."
About Glori Energy
Glori Energy Inc. (NASDAQ: GLRI) is a Houston-based specialty oil company that
deploys its breakthrough technology to recover more oil from
existing reservoirs at a lower cost. Glori's proprietary AERO
System recovers trapped oil by stimulating a reservoir's native
microorganisms to sustainably increase the ultimate incremental
recovery. Glori applies its technology to fields the company
acquires and redevelops onshore in the U.S., and also provides its
AERO System as a service to third party E&P companies. For more
information, visit www.GloriEnergy.com.
About Alberta Innovates - Technology Futures
Part of Alberta's research and
innovation system, Alberta Innovates – Technology Futures is
helping build healthy, sustainable businesses in the province.
Through a suite of programs and services for entrepreneurs,
companies, researchers, post-secondary institutions and investors,
AITF provides technical services and funding support to facilitate
the commercialization of technologies, develop new knowledge-based
industry clusters and encourage an entrepreneurial culture in
Alberta. For more information,
visit www.albertatechfutures.ca.
Glori Energy Contact
Victor M.
Perez
Chief Financial Officer
713-237-8880
ir@glorienergy.com
Investor Relations Counsel
Lisa Elliott/Anne
Pearson
Dennard-Lascar Associates
713-529-6600
GLRI@DennardLascar.com
Media Contact
Meredith
Frazier
BIGfish Communications for Glori Energy
513-402-8833
Meredith@bigfishpr.com
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SOURCE Glori Energy Inc.