Intrepid Energy, a subsidiary of Umbra Applied Technologies Group, has completed a sales agreement with two refineries. Justin Herman, CEO, of Intrepid Energy, commented, "Our goal was to create the most cost efficient pathway to deliver our product to market. We now have refinery options and enhanced choices with crude haulers within our operational footprint.
These agreements will allow us to maximize the value of our oil & gas portfolio." Initial sales will come from the company's portfolio within the Mississippi Lime formation. Intrepid Energy will be one of the first companies to supply crude oil produced in part with clean technology provided by its sister companies ChaseDown and Umbra Applied Technologies GreenTech division.