VeruTEK® Extends Relationship with RME Environmental to Include Enhanced Oil Recovery Products
BLOOMFIELD, Conn.--(BUSINESS WIRE)-- Environmental remediation and oilfield chemistry company, VeruTEK® Technologies, Inc. (VTKT), announced today that RME Environmental, a Texas-based technology implementation and consulting firm, has become a certified reseller of VeruTEK’s Enhanced Oil Recovery (EOR) product line.
RME currently is working with producers in the Gulf of Mexico region assessing VeruTEK’s EOR products for multiple oil & gas production applications including wellbore stimulation, augmented waterflood and slickwater fracturing.
VeruTEK has developed three EOR products for the oil and gas industry: VeruSOL T-500F, VeruSOL GCF, and VeruSOL SMWB1 are highly differentiated from chemical, gas and thermal processes currently used in oil recovery. These innovative EOR products were developed from VeruTEK’s patented chemical platform used to mobilize and recover heavy hydrocarbon tars for environmental remediation.
Launched in Q4 2010, VeruTEK’s EOR products have been used to significantly improve oil recovery in fields in Texas, Kansas, Montana, Louisiana and abroad, with production improvements ranging from 30% to greater than 1,000%. VeruTEK’s products address eight EOR applications:
• Well Bore Treatment
• Well Near-Field Treatment
• Formation Materials Treatment
• Water Flood
• Fracture Cleanout
• Chemical Fracturing of Formation
• Water Break/Oil Marketability Treatment
• Well Completion Cleanup
RME Principal, Ken Goodman, said, “RME has worked with a number of oil producers and achieved improved productivity using VeruTEK’s EOR solutions. The VeruTEK chemistry has shown very strong results, and we look forward to expanding our visibility in the market jointly.”
Dan Socci, VeruTEK CEO, said: “Building on the success we have had in increasing oil production in initial field implementations, we are excited to expand our relationship with RME. They provide a unique understanding of EOR applications and opportunities which is essential to developing a strong EOR market for VeruTEK. RME has been successful in generating interest in VeruTEK products and processes among oil producers and, in a short period of time, has demonstrated impressive results in converting interest to field application.”
For more information about VeruTEK’s EOR solutions and details about reseller opportunities, please visit http://www.verutek.com/eor
About RME Environmental, Inc. (www.rmeltd.com/modx/)
REM Environmental is a Texas-based technology implementation and consulting firm. Its principle areas of practice are environmental consulting, remediation, and enhanced oil recovery. Its client companies include chemical, cement, oil/gas production, and insurance.
About VeruTEK® Technologies, Inc. (www.verutek.com)
VeruTEK® is a green chemistry company with a new, field-proven approach to addressing difficult environmental issues.
VeruTEK’s technology platform addresses a broad range of applications including soil/groundwater remediation and enhanced oil recovery as well as industrial cleaning products for surface cleanup of oil spills and PCB contamination. The company has developed innovative, patented, time-released chemistry to deliver safe, high performing and lower cost remediation solutions.
VeruTEK is publicly-traded under the symbol VTKT.