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The phenomenal increase in oil prices creates a scenario of accelerated methods and more aggressive efforts from energy companies to increase capacity utilization and production to cope with and take advantage of the demand. World oil consumption is expected to rise by 1.6 million bbl/d in both 2008 and 2009 compared with the estimated 1 million bbl/d increase recorded last year. USA Superior Energy Holdings, Inc. (USSU), a development stage energy company, operates in the energy industry in the United States. The company, through its wholly owned subsidiary, USA Superior Energy, Inc., engages in the development, ownership, and operation of prospects and energy projects in East and Southeast Texas. It also focuses on using nitrogen technology to recharge and produce oil and gas from under-pressured partially depleted reservoirs.
The presence of many abandoned wells and reservoirs which have become uneconomic at lower prices opens up opportunities for profitable re-development and exploration by oil producers. In low price environments, shallow tight reservoirs, heavy oil sands, and small marginal reservoirs were not cost-effective to fully develop. These previously discovered, but poorly exploited oil fields are ready to begin producing again, given the right enhanced recovery technology to make new production economic. USA Superior Energy Holdings, Inc., on its part, is deploying enhanced recovery techniques to increase production from under-pressured, partially depleted reservoirs. The Company has interests in six oil and gas projects primarily located in East and Southeast Texas. By using Nitrogen Stimulation and CHHD to increase oil and gas flow, USSU reduces exploration risk and minimizes expenses.
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