USA Superior Energy Holdings’ Enhanced Oil Recovery (EOR) Testing Exhibits Increased Oil Production From Existing Well
USA Superior Energy Holdings, Inc. (OTCBB: USSU) (FRANKFURT: F2S) is pleased to announce that it has witnessed a 200% plus increase in oil production from an existing oil well during recent testing. This is the result of a successful cyclic Nitrogen test of the Enhanced Oil Recovery (EOR) technology developed by USA Superior.
This testing consisted of injecting a volume of Nitrogen into existing perforations in a well. Prior to this test, the well was producing a small volume of fluids consisting of 5% oil and 95% water. For the first three days after the test, the well pumped 100% oil before the nitrogen pressure depleted, representing a sizeable increase in the oil capable of being produced from the same well.
These tests were conducted to measure and verify potential results USA Superior’s research had shown could be expected when using the company’s cyclical nitrogen injection EOR program. Cyclical nitrogen injection is where a gas (nitrogen) is injected into existing oil wells to re-pressurize the oil in formation. Within a brief period of time, this reenergized pressure diffuses about the well bore. It then allows the re-pressurized oil to produce back into the well bore. As oil production and pressure diminishes over a period of time, another cycle of nitrogen gas is injected into the well bore thereby re-pressurizing the remaining oil in the formation. These cycles of injection and oil production continue until no longer economic.
“We feel these results show the potential that a cyclic nitrogen injection program implemented across a field can produce,” stated Randy Holifield, Field Supervisor of USA Superior Energy Holdings, Inc.
Third party engineering reports estimate that existing wells have only produced 5 to 10% of the oil in the ground from primary production with 90 to 95% of the remains to be produced through secondary and tertiary methods. USA Superior expects a cyclic nitrogen injection program, in addition to horizontal enhancements, to be able to produce an additional 15 to 30% of the oil still left in the ground.
ABOUT USA SUPERIOR ENERGY HOLDINGS, INC.
USA Superior Energy Holdings, Inc. is a company with excellent potential focused on applying new technologies to oil and gas fields as well as other industries. USA Superior is composed of a team of experts in their field, highly qualified with over 200 man-years of oil and gas field experience; from finding to drilling, well completion to operations and production, to problem solving, seasoned with success. Environmentally concerned and responsible, responsive to project needs and specializing in special projects, USA Superior Energy’s focus has been on developing and utilizing complimentary technologies; Nitrogen (N2) and cased hole horizontal drilling. USA Superior will seek to use these technologies independently or in combination to exploit business opportunities.
Nitrogen (N2) is used to force oil out of reservoirs. It can be applied to existing reservoirs and wellbores, thus minimizing the risk of finding oil and gas. Cased Hole Horizontal Drilling (CHHD) is a new emerging technology that can significantly increase the “communication” from the wellbore to the fluids in the reservoir. With the current price environment, many existing marginal wells can be rejuvenated into very profitable wells. The corporate website is www.usa-superior.com.
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our recent current reports on Form 8-K, our annual report on Form 10-KSB, our quarterly reports on Form 10-QSB and other periodic and current reports filed from time-to-time with the Securities and Exchange Commission.
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SOURCE: USA Superior Energy Holdings