Terrex is a Calgary-based junior oil company that specializes in the application of proven enhanced oil recovery (EOR) methods to improve oil production from mature pools.
Enhanced oil recovery is also called tertiary oil recovery or improved oil recovery. By definition, EOR processes include any method that increase oil recovery beyond primary or secondary recovery processes, including water flooding. A typical EOR process involves injecting a fluid other than water into the reservoir with the objective of economically recovering a substantial volume of oil beyond the current recovery process being employed. Very often, EOR processes are combined with improvements in an oil pools recovery through additional or infill drilling as well as improvements to the existing water flood patterns.
At Terrex, we look to capture pools, not just with the potential for improved performance through EOR, but those that also offer infill drilling opportunities, and the potential for improvement in the performance of the existing water flood scheme. Terrex’s Alberta based Strathmore Entice Pool and Two Creek A Pool are two such examples of under developed properties that contain the opportunity to combine infill drilling, water flood improvements as well as the potential for the application of proven EOR technologies.
EOR Projects generally use much of the existing infrastructure and facilities, for a reduced environmental impact compared to other greenfield projects.
Terrex is currently seeking financing alternative to be able to execute on developed plans for infill drilling and water flood improvement in both our major properties. These plans also position the pools for the application of custom designed EOR process in the near-term.
Terrex is publically listed on the Toronto Venture Exchange under the stock symbol TER-V.