On Wednesday, October 1st, 2014, MCW Energy Group hosted a ribbon cutting on the newest Utah energy production site in Vernal, where the proprietary oil sands extraction technology was demonstrated.
Touted as transformative, the patented process claims 99% closed-loop solvent recovery and zero water consumption, making it environmentally friendly, cost efficient and commercially viable.
The ribbon-cutting event was attended by local dignitaries that included Vernal Mayor Norton and State Senator Van Tassell along with the Vernal Area Chamber of Commerce Dinah-Mites, the chambers “good will ambassadors.”
Guests were taken on a facility tour and were able to climb to the top of the ore mixing unit and see the process first-hand.
Dr. R.G. (Jerry) Bailey, CEO of MCW Energy Group recognized the importance of this project and of unconventional oil processing in general. He comes from a long career as a “Texas oil man” with more than 50 years in the industry. He is a strong supporter of MCW’s new technology and said that he believes it will be revolutionary for the energy industry. He explained that MCW is in a testing phase during September/October of 2014, and anticipates starting production from this plant in the 4th quarter of this year at 250 bbl/day.
The company stated it has a number of interested investors and has secured 90% of the capital ($100 million US) it estimates is needed to expand to the 1000+ bbl/day production level. They also are in preliminary discussions concerning modular unit construction at sites in Wyoming and China.
MCW representatives thanked the Office of Energy Development for their participation at the event during the lunch speeches, and concluded with production samples of oil processed on the demonstration equipment along with clean sand obtained after the extraction process. The impact to the state’s ongoing commitment to provide reliable, affordable energy has the potential to be significant.