September 19, 2018 - 10:45 AM EDT
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Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) Maintains Focus on Becoming First Environmentally Friendly Oil Sands Mining Facility

  • U.S. Energy Information Administration estimates that about 50 percent of total U.S. crude oil production in 2017 was produced directly from tight oil or oil embedded in low-permeable shale, sandstone and carbonate rock formations
  • Petroteq’s patented clean technology extracts heavy oil from oil sands, oil shale deposits and shallow oil deposits in environmentally safe and sustainable method
  • Advanced technologies and efficiencies for extraction of oil and gas from liquid-rich shale credited with moving U.S. back to top of global energy sector
  • Petroteq preparing to produce 1,000 barrels of oil per day, with 8,000 bpd target
  • Continuity testing complete as Petroteq plans to begin extraction during Q3 2018

A shale boom has helped send U.S. crude oil production surging above 10 million barrels per day (bpd) for the first time since the 1970s, according to a monthly report from the U.S. Energy Information Administration (EIA), a Reuters article states (http://nnw.fm/q3nsX). The EIA estimates that, in 2017, about 4.67 million barrels per day of crude oil – or 50 percent of total U.S. crude oil production – were produced directly from tight oil resources in the United States. Tight oil is oil embedded in low-permeable shale, sandstone and carbonate rock formations

Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FSE: PQCF), a fully integrated oil and gas company focused on the development and implementation of a new, proprietary technology for oil extraction, is in a prime location for contributing to the booming U.S. shale oil market as it makes final arrangements for continuous operations at its…

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Source: NetworkNewsWire (September 19, 2018 - 10:45 AM EDT)

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