Laredo Oil Inc. is an independent Exploration and Production E amp P Company engaged in the acquisition, production and re development of oil using a unique Enhanced Oil Recovery EOR Application in Depleted and Mature Oil Fields. The Company s primary focus is on increasing domestic production from proven oil fields. lt br / gt The process began with oil field screening and selection. We pursued oil fields with a minimum of million barrels of estimated recoverable oil. There are , fields in the US with an addressable market at B bbls , fields worldwide with stranded oil fields identified by Laredo as qualified for UGD recovery. At first when the Company acquires a targeted oil field, we will continue to operate the producing field and expect to generate revenue and profit from doing so. Then, Laredo s tool is to apply its Underground Gravity Drainage UGD process. The UGD method in the field starts with gaining underground access, then implementing traditional, proven underground mining machinery to drill upwards from beneath the target oil field, where closely spaced wellbores can be drilled up into the reservoir, using gravity to then drain the targeted reservoir through the wellbores. Once development of the underground chamber and the UGD method is prepared for operation, the conventional wells will be capped after UGD production has begun. A combination of increased well spacing and Gravity Drainage is used to drain the remaining mobile oil. The Hyper Down Spacing enables accelerated production across the entire field. This method is applicable to mature oil fields that have very specific geological characteristics. This Business Process significantly increases well count and radically reduces Capital and Operating cost per bbl: average cost vs. industry average of per barrel for Enhanced Oil Recovery projects. Some wells can materially increase the field oil production rate from prior periods and recover amounts of oil equal to or greater than amounts previously recovered from the mature fields selected. As such, this Business Process can produce oil equal to or greater than the historical cumulative production in the field. This solution boasts highly predictable production and high scalability. The effect of such operations should result in minimal disruption of oil production from our field investments.
Quote | Laredo Oil Inc (OTCMKTS:LRDC)
Last: | $0.55 |
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Change Percent: | 1.89% |
Open: | $0.52 |
Close: | $0.55 |
High: | $0.55 |
Low: | $0.52 |
Volume: | 25,242 |
Last Trade Date Time: | 07/19/2024 03:00:00 am |
News | Laredo Oil Inc (OTCMKTS:LRDC)
Laredo Oil (OTC: LRDC ), an oil exploration and production company, and its wholly owned subsidiary, Hell Creek Crude (“HCC”) LLC, are reporting oil shows in three zones of the Reddig 11-21 well in the Midfork field located in Valley County, Montana. The oil shows were discover...
Laredo Oil Announces Discovery of Oil Shows at Midfork Well PR Newswire AUSTIN, Texas , July 3, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC) , announces that Hell Creek Crude, LLC, a wholly-owned subsidiary of Laredo Oil (...
Message Board Posts | Laredo Oil Inc (OTCMKTS:LRDC)
Subject | By | Source | When |
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They are broke and cant raise any more | 1flaguy | investorshub | 03/06/2023 4:28:51 PM |
maybe oil price has to be higher for | Steven1f | investorshub | 03/05/2023 3:12:52 PM |
The Laredo team has a great concept, and | UTBG | investorshub | 02/24/2023 12:46:40 AM |
Anyone who snagged some under .10 GJ. | lager | investorshub | 11/19/2022 11:02:42 AM |
There is some accumulation happening in the past | Mr_Baby | investorshub | 11/02/2022 1:47:27 PM |
News, Short Squeeze, Breakout and More Instantly...
Laredo Oil (OTC: LRDC ), an oil exploration and production company, and its wholly owned subsidiary, Hell Creek Crude (“HCC”) LLC, are reporting oil shows in three zones of the Reddig 11-21 well in the Midfork field located in Valley County, Montana. The oil shows were discover...
Laredo Oil Announces Discovery of Oil Shows at Midfork Well PR Newswire AUSTIN, Texas , July 3, 2024 /PRNewswire/ -- Laredo Oil, Inc. ("Laredo Oil") (OTC Pink Sheets: LRDC) , announces that Hell Creek Crude, LLC, a wholly-owned subsidiary of Laredo Oil (...
Laredo Oil (OTC: LRDC) ,an oil exploration and production company, and its wholly owned subsidiary, Hell Creek Crude LLC, have started drilling the Reddig 11-21 well in the Midfork field located in Valley County, Montana. According to the announcement, the well is the first of three producti...