- EOR delivering in a down-cycle
Elk Petroleum (ELK) is developing the Grieve CO2 enhanced oil recovery (EOR) project in Wyoming. ELK sees its current US activities as providing a platform for leveraging its EOR expertise to create scalable growth, both in the US and overseas. Grieve, in production from late CY17, is expected to be strongly cash generative and will help fund growth.Elk Petroleum is engaged in developing enhanced oil recovery (EOR) projects. Co.'s activities consist of the development of a CO2 EOR project at the Grieve oil field in Wyoming, U.S., continuation of operations at the Singleton Unit in Nebraska for future implementation of an EOR project, and via its acquisition of the Singleton South oil field in Nebraska, the development of potential by-passed oil pool on the southern flank of the Singleton Unit. Co. has two operating segments: Australia, which comprises the corporate head office function; and the U.S., which comprises administration, production, exploration, evaluation and development of oil and gas fields and ownership of pipelines.
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