New crude technology

Disclosure: I am long MiMin.


http://www.bakersfield.com/news/busines ... ess-to-oil
New crude technology may expand access to oil
BY JOHN COX, Californian staff writer
| Monday, Jun 20 2011 12:23 PM
Last Updated Monday, Jun 20 2011 02:59 PM

A new method for extracting heavy, hard-to-reach crude is under development in Kern County with the promise of extending the life of local oil fields.

Carpinteria-based NiMin Energy Corp. says the pure oxygen-fueled technology it patented last year, called combined miscible drive, represents a significant advance over existing "enhanced oil recovery" methods such as steam flooding, an approach pioneered and widely used in Kern County.

But before NiMin's approach can gain wide acceptance here or anywhere else, people in the industry say, the company will need to demonstrate that its technique presents a cost advantage over the many other technologies in use or development.