Under the terms of the arrangement, QortechOil has provided and installed technology on one of Southwest Resources’ mineral leases in Creek County, Oklahoma, to test the technology for enhanced oil production from existing wells.
QortechOil and Southwest Resources will evaluate the results of the testing over the next 30 days. The technology causes an electromagnetic variance in polarity to influence the fluids.
Should the test return the expected result of increased oil production, Southwest Resources intends to expand the joint venture relationship to multiple leases in other locations, the company said.
Southwest Resources is currently pursuing oil and gas properties in Texas, Oklahoma, New Mexico and Arizona and has mining rights in Utah.
