Petroteq Energy Inc

Petroteq Energy Inc. is an American company primarily involved in the extraction and processing of oil from oil sands. Its operations include securing and utilizing mineral leases across Utah, particularly within the Asphalt Ridge area. Here, Petroteq holds rights to mine and produce oil, associated hydrocarbons, and minerals from oil sands rich in heavy oil and bitumen, spanning approximately 1,671.91 acres. This includes 320 acres under the TMC Mineral Lease and an additional 1,351.91 acres through three Temple Mountain State of Utah's School and Institutional Trust Land Administration Leases. Furthermore, the company manages exploration and production rights under five other leases, encompassing roughly 5,960 acres situated in Uintah, Wayne, and Garfield Counties, Utah. Beyond its resource extraction activities, Petroteq is actively developing a supply chain management platform leveraging blockchain technology for the oil and gas sector. Founded in 2010, the company, originally known as MCW Energy Group Limited, adopted the Petroteq Energy Inc. name in May 2017 and maintains its headquarters in Sherman Oaks, California.