Greenflame Resources Inc. Provides Update on Planned Redevelopment of Parrylands Block E, Trinidad and Tobago
Update on field redevelopment activities at the 744-acre onshore Parrylands Block E asset under the Production Sharing Agreement with New Horizon Trinidad and Tobago Ltd.
Elevated crude oil prices have contributed to rising interest in enhanced oil recovery (“EOR”) technologies. Greenflame Resources Inc. (“Greenflame” or the “Company”) is redeveloping Parrylands Block E, applying engineered solutions to increase crude oil and gas production from existing fields.
The Company’s EOR redevelopment strategy is to enter wells that conventional primary producers have left behind or previously written off as low in economic value or economically extinct, and rework them. The Company proposes accelerating oil recovery in key existing field assets where the majority of the oil remains in place by leveraging EOR at the primary production stage.
Greenflame will utilize and leverage existing infrastructure while applying purpose-designed science, chemistry, and technology to deliver significant improvements in production and ultimate recovery. The Company expects that its proprietary two-phase solution combining Cold Heavy Oil Production with Sand (CHOPS) and EOR, which utilizes thermally-assisted polymer flooding, as well as a novel mechanical re-entry process known as “enhanced slotting”—a technique that replaces conventional 4mm perforations with large-diameter cuts to maximize reservoir inflow area—has the potential to reinvigorate a field that conventional operators have considered to have limited economic value.
