HOUSTON, June 01, 2017 (GLOBE NEWSWIRE) -- Planet Resource Recovery, Inc. (PINK SHEETS:PRRY), provider of green chemistries for the Oil & Gas and Water Industries, announced today that it has received very positive results from a pilot test conducted in the Permian Basin of West Texas on oil field flow lines.
Keywood Solutions, a PetroLuxus dealer in West Texas, was invited by a large independent Oil & Gas Producer, with a Market Capitalization of over $5 Billion, to participate in a pilot test with various chemical companies to address the costly problem of constantly plugging flow lines from the well head to the collection tanks. The plugging of flow lines is due to the grade of oil and temperatures. When oil flow lines plug, oil production stops and requires a costly Hot Oil treatment to clear the lines and bring the production back on line.
Keywood Solutions treated the pilot flow lines with PetroLuxus over the course of 90-days. The results realized on the flow lines after the PetroLuxus treatment were:
- Flow lines never plugged, hence production was never stopped.
- NO costly Hot Oil treatments were required.
- Transmission pressures dropped from 155 PSI to 60 PSI.
The pumper/gauger that supervised the pilot testing commented, “You boys and your PetroLuxus have been able to do what 3 major petrochemical companies have not been able to do - keep the lines from plugging. The drop in transmission pressures is almost unheard of and will be a huge cost savings.”
Keywood Solutions has expanded and broadened its pilot testing of PetroLuxus for this large independent which includes downhole treatments. Keywood anticipates this testing to be completed within 90 days.
About Planet Resource Recovery, Inc.
Planet Resource Recovery, Inc. is the developer, manufacturer and marketer of the earth friendly products of the PetroLuxus™ Technology Platform which currently include the PetroLuxus™ family of products for the Oil & Gas Industry and nontoxic AquaLuxus™ WC treatment for the Water Industry. For more information visit: Prry.net
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report for the year ended December 31, 2014, the Company's Quarterly Report for the Third quarter ended September 30, 2015. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.