LAS VEGAS, NV–(Marketwired – March 7, 2018) – Vivakor Inc. (OTC PINK: VIVK) announced today that VivaVentures Energy Group, a wholly owned subsidiary of Vivakor Inc., has successfully extracted hydrocarbons from the oil sands in Utah for the past year.
Vivakor’s patent pending, closed looped hydrocarbon extraction technology was invented to solve a pivotal problem within the state of Utah: how to monetize over 30 billion barrels of estimated heavy crude reserves found within the oil sands in the state. Vivakor is the first and only Company to consistently produce oil from oil sands with an environmentally-friendly, closed-looped system. This system has demonstrated continuous developmental production of crude oil, while the sands are cleaned to 99% purity of all contaminants, and has done so for over a year now.
Vivakor Chairman and CEO Matt Nicosia said, “The success of our patent pending technology has achieved a new milestone. With over a year of continual developmental production we have been able to go where no one has before with oil sand hydrocarbon extraction in Utah. Before Vivakor’s success with oil sands, the most that any technology had operated was for four hours continual. Not only were we the first continual technology to be able to operate 24 hours a day, we have been producing oil for over a year. This has enabled Vivakor to prove our technology and maximize asset value. We look forward to creating further shareholder value by expanding our footprint worldwide.”
Vivakor is an asset acquisition company that procures, develops and commercializes revenue producing assets across the globe. These holdings include intellectual properties that are proprietary and largely disruptive while centered principally in the natural resources sector.
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