SEER awarded second patent for oil field vapor recovery technology

MV Technologies announced it has a second patent for its oil field vapor recovery technology, which can reduce greenhouse gas emissions during operations.

MV Technologies, a subsidiary of Strategic Environmental & Energy Resources, Inc. (SEER), announced it has a second patent for its oil field vapor recovery technology, which can reduce greenhouse gas emissions during operations. The technology, called V3RU, was first issued a patent in June 2012 and has since proven successful in eliminating methane and volatile organic compounds emissions in Colorado.

"Based on these positive results, we believe the V3RU is a very cost-effective solution to the increasingly stringent regulations targeting oil and gas operations," Michael Readey, executive vice president of SEER, said in a statement. "We plan to expand our efforts to include additional field demonstrations with other potential customers and formally launch the product in the second half of 2014."

Oil and gas companies may be actively looking to curb their greenhouse gas emissions by implementing clean technologies as well as determining other ways to reduce their environmental impact, The Wall Street Journal reported. Firms have also been looking to stop methane leaks from equipment and recycle waste water from fracking.

More information on production potential for mature oil in the U.S. can be found on PennEnergy's research area.

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