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Platina Energy acquires Enhanced Oil Recovery Inc.

Published Apr 4, 2008
Texas U

E&P outfit Platina Energy Group has acquired UTEK Corp., an “innovation” services company owned by the University of Texas at Austin, by buying all its stock, it was understood Friday.

Platina heralded the “transfer of technology” as including an exclusive worldwide license acquired from the University for a technology that uses a combination of electrical submersible pump and jet pump to separate liquid and gas streams.

The system could enable a submersible pump and a jet pump to be used in combination in a "high gas-to-liquid ratio oil well" without installing a gas vent line.

“The company plans to install the licensed product in some of its production wells and sell the product to third parties,” a Platina statement aid.

Tags: Platina Energy Group, UTEK Corp.


 
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