SUGAR LAND, Texas, Oct. 10, 2013 /PRNewswire/ -- Skye
Petroleum, Inc. (Pink Sheets: SKPO) is pleased to announce that it
has acquired a newly developed asphaltene chemical technology that
will enhance Skye's ability to help oil companies battle flow
assurance issues throughout the production stream.
Asphaltenes are molecular substances that impart high viscosity
to crude oil, negatively impacting production. Asphaltene can
create clogging in the wellbore, surface facilities and subsurface
formations in a similar fashion as paraffin blockages. This
treatment process allows Skye Petroleum to expand its reach into
new markets and provide a further depth of solutions in regions
where both paraffin and asphaltenes are present.
Chief Development Officer, Brandon
Rhodes, stated, "The Skye Chem AD (Asphaltene Dispersant)
chemistry is a complement to our existing product line. Our
customers are looking for solutions in dealing with high pour point
crude and sludge with asphaltene deposits. This is a hot
topic among some of our distribution partners and the potential is
enormous. The Skye Chem AD is an effective asphaltene
dispersant anywhere in the production, transportation, storage and
refining phases. The chemistry works at a low parts per
million (PPM), so the return for our customers is
significant. This technology places Skye in a stronger
overall competitive position in providing flow assurance
solutions."
Skye Petroleum is expanding into the Completion fluids arena, as
well. Skye continues to work toward being able to offer a
full range of oil field chemicals to our distributors and oil
producers.
As the third quarter of 2013 came to a close, Skye's sales
crossed $53,000 for the quarter and
over $100,000 for the full year.
Skye began selling chemicals in late 2011 with $4,800 in sales before seeing an increase in
chemical sales in 2012 to $48,000. "We are very excited to see our
sales expanding at a rapid pace year over year and quarter over
quarter. With what we see in the pipeline and the new markets
we are expanding into, we anticipate sales continuing to grow at a
rapid pace. We are also continuing to add distribution
partners in more regions," said Buck
Eaton, COO.
Please visit the company web site, www.skyepetroleum.com or
contact Buck Eaton, COO, at
office@skyepetroleum.com or 281-265-1199. Skye Petroleum,
Inc. is a publicly traded corporation, listed on the "OTC Pink
Current Information" tier on the OTC Markets Group Inc. electronic
quotation venue, under the trading symbol, SKPO.
SOURCE Skye Petroleum, Inc.
