Fracking in a Drought ZoneFrom: Riggs Eckelberry Los Angeles, June 13, 2012
From: Riggs Eckelberry
Los Angeles, June 13, 2012
Hydraulic Fracturing (“Fracking”) is becoming a local problem for drought areas.
Kansas is one of those places.
Farmers are digging their ponds deeper, praying for the next rainfall and then selling whatever water they have to oil companies, said Mike Lanie, Harper County’s economic development director. (more at CNN Money)
Farmers selling their own water to oil companies during the worst drought in years?
The industry gets it. It is realizing it has to start recycling its water. And that is happening fast.
The Crazy All-Out Market
In this tornado of a market, we’re already being mentioned alongside an “established” player… one that took off just two years ago!
Ecosphere’s oil and gas revenues have increased 10X over the past two years. Other companies, including OriginOil, offer competing solutions. “Because states are persuading themselves to let fracking go on, they will create a booming market for cleanup,” said Riggs Eckelberry, CEO of OriginOil. (more at Smartplanet)
We can help these players by doing a cheaper, faster and better job of getting 98% of the petroleum out before they step in with their final steps.
“An economic value far in excess of the cost of the process”
In yesterday’s Streetwise Energy Report, analyst Ian Gilson commented,
…increased oil recovery has an economic value far in excess of the cost of the process. The technology can be licensed on a fee or royalty basis, and infrastructure doesn’t have to be built. This could be a major win for OriginOil. This is a potential gold mine.
Development vs. Opportunity
Subscription-only publication EnergyWire ran an in-depth article1 on our new business:
“Algae is doing well, but it’s an industry in development. … In some ways, it’s very similar to what the oil industry went through a century ago,” Riggs Eckelberry, CEO of OriginOil, said in an interview.
So as biofuels makers work slowly toward replacing petroleum, Eckelberry is working to grow his business through an “opportunistic” turn toward unconventional oil recovery.
That puts it very well. We are helping to build an algae industry; meanwhile an industry that’s already built needs help now to operate cleaner and more efficiently.
Have a great week!
Riggs and team
President & CEO
OriginOil, Inc. (OOIL)
OriginOil Signs Initial Agreement to Commercialize Its Oil and Gas Production Water Recovery Process
Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.
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