Cycle Energy Industries ( OTCMKTS: XFLS ) is a Canadian corporation based in the province of Alberta, they are a unique energy provider that operates three vertically integrated business units in the Western Canadian Sedimentary Basin. They created a vertically integrated company where each subsidiary creates value and adds support to the other.
Cycle Oil and Gas focuses on acquiring and optimizing underdeveloped oil and gas assets and to employ in-house developed & licensed technologies to increase production, optimize performance and reduce costs. The company currently produces approximately 100 barrels per day of oil.
Cycle Energy Industries ( OTCMKTS: XFLS ) Recent Trading
The company on August 17th, 2020 is currently trading at $0.008, up 60% from their previous close of $0.005, on news they are positioned to be a key player in the upcoming Blue Hydrogen Market in Alberta, Canada. Alberta is looking to develop a blue hydrogen strategy to replace Natural gas in the extraction process for steam drive oil sands sites. Blue Hydrogen is hydrogen derived from natural gas where the hydrogen is recovered, and the carbon can be captured and stored.
The current corporate share structure according to OTCmarkets.com is as followed:
On August 25th Cycle Energy Industries ( OTCMKTS: XFLS ) announced it continues to expand its existing energy production portfolio by acquiring 100 percent of Energy Express Canada Corp., a junior oil and gas company located in central Alberta, Canada. The purchase agreement of Express Canada Corp. is for 100 percent of the company’s issued and outstanding shares.
Cycle Energy Industries ( OTCMKTS: XFLS ) supports our Exploration and Production (E&P) team with well services and end of life reclamation which gives the E&P company an unprecedented advantage over its competitors. This business plan excels by providing services that would otherwise be too costly and not financially viable for specific workovers or turn around projects. Cycle Energy Services owns and operates combo wireline-service rigs and Hydrovac Units. The focus of Cycle Energy Services is primarily end of life abandonment and reclamation of non-producing assets. The company excels by supplying fixed cost services via our custom rigs and equipment that results in reduced time onsite, faster rig in and rig out times as well as reduced number of vehicles onsite. Cycle’s efficiencies reduce the amount of fuel burned to complete the abandonment and reduces the carbon footprint to abandon wells.
Cycle Energy Industries ( OTCMKTS: XFLS ) Video
Cycle Energy Industries Inc. announced it continues to push its technology towards commercialization which includes its Non Thermal Plasmatron, the front-end reformer of the company’s Gas to Liquid system and the upcoming blue hydrogen market being initiated by the Canadian government in Alberta would make Cycle Energy’s Non Thermal Plasmatron an ideal fit according to Michael McLaren, CEO of Cycle Energy Industries Inc.
A recent Reuters article stated Alberta is looking to develop a blue hydrogen strategy to replace Natural gas in the extraction process for steam drive oil sands sites. Blue Hydrogen is hydrogen derived from natural gas where the hydrogen is recovered, and the carbon can be captured and stored. The Article quoted Dale McNally the Honorable minster of Natural Gas for Alberta as saying they will announce a strategy no later than October of this year to develop “Blue Hydrogen” as an alternative to natural gas in this process.
Cycle Energy Industries ( OTCMKTS: XFLS ) CEO Michael McLaren Quotes
“This is exciting news for our NT Plasmatron technology which we believe is the perfect technology to meet the needs of this market.” said McLaren. “Our electrical driven technology is more robust and reliable than traditional steam reforming technologies. It’s also far more cost effective and deployable than the alternative. By using internal production of gas we are able to add value by turning the gas into valuable chemicals and C5+ hydrocarbons at a multiple of 3x-4x which is extraordinary in our industry.”
McLaren also said Cycle Energy technologies has recently completed its proprietary power supply for the NT Plasmatron that will revolutionize reforming technology with intelligent control of the process.