Quadrise Plc said Monday it received an update on the Valkor oil recovery project in Utah, noting that Valkor Technologies LLC has commenced drilling at two new pilot wells at the Asphalt Ridge site.
The drilling follows a Core Laboratories study that confirmed the technical viability of Valkor's modified enhanced oil recovery project, according to the company. Project milestones were achieved in the third quarter of 2026.
A heavy sweet oil sample from Valkor's new pilot plant was shipped to the Quadrise Research Facility, where MSAR and bioMSAR formulation work is scheduled to take place in the fourth quarter of 2026. Joint marketing of MSAR and bioMSAR is currently underway in Utah. Quadrise manufactures replacement fuels and biofuels for shipping and heavy industry.
Valkor expects to pay an outstanding site licence fee balance of $0.95 million by the end of October 2026, upon receipt of project funding due the following month. Following payment, Quadrise's Multifuel Manufacturing Unit — with a capacity of 600 barrels per day — is scheduled to be shipped to Utah.
Valkor plans to begin an eight-well drilling programme later this year. Its oil sands pilot plant, whose site installation works are underway, has a capacity of 500 barrels per day. Production from the pilot plant is expected to commence in the first quarter of 2027, with a target of approximately 1,000 barrels per day in 2027.
