Colver Technologies: As hydraulic fracturing’s Achilles’ Heel is exposed by falling prices, GTL’s flexibility and production cost efficiency is drawing attention.
Colver Technologies says it has received a flood of inquiries and orders for plant and technology at numerous sites as oil prices continue their slide and large oil traders and oil majors look to trim back production as key shale oil drilling sites in light of recent energy market turmoil.
“While the precipitous fall in the price of crude oil has highlighted stark economic realities associated with hydraulic fracturing (‘fracking’) and for the producers reliant upon the technology, it has also provided an opportunity for small scale GTL to help oil companies make up for the inevitable loss of revenue once production is scaled back,” said Gus Stuyvesant, Chief Operating Officer at Colver Technologies.
The company provides producers who typically burn off gas associated with conventional production into the atmosphere with small-scale GTL installations that enable them to turn the low value natural gas into premium value distillates like gasoline, diesel and aviation fuel.
Like any other business, the oil producers have cash flow obligations and if there’s an opportunity to increase revenue by utilizing a resource they’d ordinarily have just wasted, it makes perfect sense to take it,” added Stuyvesant.
Colver Technologies says that it is responding to a sharp increase in demand and is shipping plant and personnel to sites in Texas, Angola, Nigeria and Venezuela.
“We don’t envisage oil prices returning to $80+ a barrel any time soon and, even if we do, it’s like to take years for the shale industry to pick itself back up and resume production at the same rate as they did before the drop in prices. We welcome the opportunity to demonstrate our value to the broader industry in terms of environmental responsibility but also in terms of cost efficiency,” concluded Stuyvesant.
About Colver Technologies
Colver Technologies’ modular GTL systems revolve around the Fischer-Tropsch reactor, a conversion technology developed in the 1920s by Franz Fischer and Hans Tropsche in Germany in 1925. It facilitates the production of significantly cleaner-burning liquid fuels like diesel and jet fuel from natural gas that contains no sulfur. We are committed to doing our part to drive uptake of GTL fuels as global efforts to reduce emissions increase and have invested heavily to ensure the continuing development of this highly attractive alternative to conventional energy production.
Contact Colver Technologies:
Longzhimeng Asia-Pacific Center
22 Pangjiang Street
Dadong, Shenyang, Liaoning