About glori energy
Glori Energy is a technology focused energy company that applies its proprietary AEROTM System to existing oil wells in order to increase oil production in an environmentally responsible way at less than $10 per barrel. Only about one-third of the oil discovered in a typical reservoir is recoverable using conventional oil production technology, leaving the remaining two-thirds trapped in the reservoir rock. Glori’s AERO technology stimulates the native microorganisms that reside in the reservoir to improve the recoverability of this trapped oil. Glori provides its AERO System as a service to third party E&P companies, and also uses its technology to increase oil production in fields that it acquires and redevelops in the United States.
Glori has assembled a team of oil industry professionals with extensive experience in all facets of acquiring and managing oil properties. Glori’s acquisition team has a pipeline of potential acquisitions, both through direct private negotiations as well as the public bid process. Glori will acquire and redevelop mature oil fields with historically long-lived, predictable production profiles that fit the criteria for the AERO System. This strategy enables Glori to capture the increase in revenues and ultimate oil recovery while further demonstrating the efficacy of its technology. By owning its own oil properties, Glori can manage the implementation of the AERO System in a controlled environment and accelerate the industry adoption of the technology.