Imperial Petroleum, Inc., headquartered in Evansville, Indiana, is a diversified energy company vested in traditional oil and gas exploration and production; biofuels, notably biodiesel; and non-traditional oil extraction from workable tar sands.
In the first category, Imperial Petroleum operates – either through working interests or through leases – oil and gas wells in the Bernice Field in Union Parish, northern Louisiana; in the Coquilee Bay Field in Plaquemines Parish, Louisiana; in the Cotton Valley, Travis Peak and Pettit formations in the Bethany and Carthage fields in Texas; in Jack and Parker counties, Texas; and in the Claymour Field, Todd County, Kentucky. The Company also holds the rights to several inactive gas wells as part of its New Albany Shale holdings.
In the second category, and after the successful purchase of e-biofuels, LLC, the Company operates through that company and through its subsidiary, Hoosier Biodiesel Company, to produce biofuels/biodiesel.
E-biofuels offers environmentally friendly biodiesel made from soybean oil, animal fats and tallow. Hoosier is vested in making and selling renewable boiler fuels, and recently concluded the research and development phase of a new process for making these fuels.
This process includes:
• A proprietary, patent-pending emulsification technology which delivers cost-effective, renewable boiler fuels aimed at reducing nitrogen oxide (NOx) and sulfur dioxide (Sox) emissions without sacrificing efficiency
• A proprietary pre-treatment process that converts fatty acids to biodiesel without esterification ( and without the significant losses associated with such processing)
• A proprietary finish process that reduces the cold-flow properties of biodiesel to 40 degrees (Centigrade) below zero without yield reduction
In the third category, the Company created Arrakis Oil Recovery, LLC, in February of 2010, to obtain a non-exclusive license for the development of a revolutionary new, eco-friendly process to recover bitumen from tar sands in the U.S.
The process, which does not rely on heat and is thus less energy intensive than traditional tar sands recovery, uses a closed-loop system to prevent emissions, and chemical enhancements to make the tar-oil flow through pipelines.
Bitumen in its natural state is a very thick form of crude oil that will not flow unless heated or diluted, usually with other hydrocarbons. In Canada, these bituminous reserves are primarily “water-wet”; that is, a layer of water surrounds the bituminous sand. In the U.S., most tar sands, notably those in Utah, are “oil-wet”.
Arrakis’s process reportedly works equally well on water-wet and oil-wet tar sand deposits and – backed by an exclusive license to use the extraction technology in Canada – has built a commercial-scale demonstration facility and entered into an agreement with Clean Sands International, Inc. to develop the revolutionary bitumen-thinning process in Argentina, Canada, Mexico, Russia and Venezuela. This permission is in exchange for an up-front fee, royalties, and a facility in the southwestern U.S. which will be built by Clean Sands. The commercial demo unit will be field-tested this summer.
Imperial Petroleum also operates a subsidiary, Ridgepoint Mining Company, which retains smelter royalties and an equity position in a joint placer gold mining venture with Duke Mining Company, which operates a mine in San Juan County, Utah.
Taken as a whole, the extensive diversification of Imperial Petroleum predicts its success no matter which way the various markets move, and good business practices translate that success into improved energy extraction technologies, reliable working partnerships, and significant returns for shareholders.
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