SUGAR LAND, Texas, Aug. 19, 2013 /PRNewswire/ -- Skye
Petroleum, Inc. (Pink Sheets: SKPO) is pleased to announce that in
the first six (6) weeks of the third quarter of 2013, sales have
already surpassed the record sales in the most recent second
quarter. Also, sales of its Skye Chem Wax-Dispersant Ready to Use
chemical (WD-RTU) in 2013, have now doubled the chemical sales of
2012. Skye attributes the sales growth to focusing on selling
through a network of distributors. The company has sold
through multiple distributors in Pennsylvania, Alabama, Louisiana and Texas over the past year. Skye has also
added Account Executives in Houston to expand its marketing efforts across
the United States.
In Pennsylvania, the company is
experiencing its widest distribution among oil well operators as
the Skye Chem WD-RTU is becoming known as an effective product in
significantly reducing paraffin problems throughout the oil
production process. Scot
Stutzman, Senior Vice-President of the Eastern Region
stated, "Producers in Pennsylvania
have reported using our Skye Chem WD-RTU for a variety of different
treatment protocols, which have successfully addressed costly
paraffin problems from down-hole all the way to and including the
storage tanks."
Skye Petroleum believes the Skye Chem WD-RTU is an effective wax
dispersant that will significantly reduce paraffin problems in
multiple upstream and midstream applications. Previously, the
focus had mainly been on down-hole and flow-line applications, but
a recent test on a storage tank in Arkansas proved very successful in eliminating
paraffin buildup. Skye is seeking further testing
opportunities for pipelines and oil terminals.
Brandon Rhodes, Chief Development
Officer stated, "The robust chemistry in the Skye Chem WD-RTU
continues to prove its fault tolerance and cost-saving
ability along all segments of the oil and gas value chain."
The Skye Chem WD-RTU chemical was recently tested against a
brand name company's product in North
Dakota and was very successful. WD-RTU has been
successfully used in batch treatments, but this recent test proved
that it could be used on a down-hole continuous injection basis, as
well.
Rhodes stated further, "With recent successes in North Dakota, we are now competing head to
head with top tier chemical service companies that boast the most
widely used chemistry in the oil field, and we're winning.
Skye Chem WD-RTU continues to outperform the standard. We
don't think there is a single product out there that would perform
as consistently as our wax dispersant chemistry. While
building on our continued success in the upstream market, we are
aggressively attacking the midstream and downstream markets with
strategic partners and expect to separate ourselves from the
competition with further market penetration. The need for a
consistently reliable wax dispersant chemistry in our business is
in high demand and very profitable, and we are well positioned to
be the market leader. We estimate the potential market at a
billion dollars plus, with current conditions, and expect rapid
sales growth on all fronts. It's an exciting time for us and
forecasts are for strong, continued growth."
Skye recently sold its remaining oil leases it held in
Pennsylvania in order to focus
entirely on chemical sales. The strategy is proving
successful thus far and Skye anticipates strong sales growth to
continue as the company aggressively seeks partners throughout
North America.
Please visit the company web site, www.skyepetroleum.com or
contact Buck Eaton, COO, at
office@skyepetroleum.com or 281-265-1199. Skye Petroleum,
Inc. is a publicly traded corporation, listed on the "OTC Pink
Current Information" tier on the OTC Markets Group Inc. electronic
quotation venue, under the trading symbol, SKPO.
SOURCE Skye Petroleum, Inc.