Elk Petroleum

Category
Fulcrum Energy Capital Fund II

In late-2017 Fulcrum II partnered with a large financial institution in a privately negotiated preferred equity investment in the private U.S. subsidiary of Elk. Listed on the ASX in 2005, Elk’s strategy is focused on applying established enhanced oil recovery (EOR) technologies to mature oil fields. This strategy significantly de-risks the process of exploiting mature oil field reserves. Elk’s current projects use EOR technology that involves injecting CO2 into the reservoir at pressure and temperature conditions where the CO2 and remaining oil become miscible with each other and act as one phase whereby previously immobile remaining oil commences to flow again and incremental oil recovery is possible at levels approaching what was obtained from the field in the primary phase of a field’s development.