Dragon intends to use a patented EOR chemical to increase production output. This patented EOR chemical that will use thins heavy, almost tar like oil and helps the oil to be easily extracted from the sand that it is embedded in.
Additionally, the chemical repels oil, allowing the steam to force the residual oil down toward the producing wells, leaving low percentages of oil left in place and maximizing production recovery. Initial production rates will be enhanced once the EOR chemical is introduced to the targeted porous sand formation via steam injection.
Scott Smith, chairman and CEO of Dragaon, said: “Black Dragon is committed to continually finding new technology applications which increase production rates in an industry which still largely operates on antiquated technology. Dragon intends to become a symbol of technological advancement for the oil and gas industry.”
Dragon is an oil and gas exploration and production company focused on the acquisition of mature, producing and existing domestic oil and gas fields.
