PNP Petroleum's ("PNP") main focus is on secondary and enhanced oil recovery techniques to extract additional oil from mature onshore U.S. fields. Based in San Antonio, Texas, PNP employs a unique business model that enables the company to exploit our country’s proven reservoirs and fields with marginal production that still contain significant reserves that can be produced through enhanced oil recovery (EOR). PNP has been using proven technology and had implemented EOR using Nitrogen gas (NEOR) stripped from air to assist in the recovery of abandoned oil. NEOR has been used for many years, with great success, by companies such Mobil, Exxon, ARCO, Phillips, Sun and more recently by PEMEX.
Increased energy prices, coupled with advances in oil recovery technology, position PNP to capitalize on these opportunities in order to build value, while at the same time help reduce the United States’ dependence on foreign oil sources.
PNP’s forward-thinking strategy has put us in the enviable position of taking advantage of abandoned oil field opportunities before significant competition appears. The Company has assembled a highly-qualified and experienced team and has already acquired at attractive prices a number of quality oil and gas assets it believes hold great potential for increased production through secondary recovery methods that include waterflooding and gas injection. PNP has benefited from the many years of EOR research and development, sponsored and performed by various departments of the U.S. government, universities, and major oil and oil service companies.
