Red Leaf Resources
Red Leaf Resources is re-defining oil shale production.
Red Leaf Resources was formed in 2006 with 17,000 acres of leases in Uintah County, Utah and a concept for developing oil shale using a “modified ex-situ retort.” This concept is called the EcoShale® In-Capsule® process. The oil produced from Utah shales using the EcoShale process will be light oil that is excellent feedstock for ultra-low sulfur diesel fuel.
In 2008 and 2009, Red Leaf conducted a pilot test on its acreage in Uintah County. The test was a success and produced over 300 barrels of high quality oil. The shale in the capsule heated up as predicted per computer simulations.
Since 2006, Red Leaf has raised roughly $200 million to refine and develop EcoShale technology. In March 2012, Red Leaf signed a Joint Venture agreement with Total E&P USA to bring the technology to commerciality. This joint venture called for two steps to commerciality. The first step is to design and construct an Early Production System (EPS). This is a single capsule that is roughly 75% the sizes of the expected commercial capsules. The EPS capsule should produce roughly 400,000 barrels of oil equivalent. Red Leaf commenced site preparation work for the EPS capsule in January 2014. Following the completion of the EPS, expected in 2016, Red Leaf and Total will make the final investment decision regarding moving forward into continuous commercial production.
While the main focus of Red Leaf is the development of the EPS capsule, the company also is building value through new licensees to develop the technology in other areas. Red Leaf currently has four licensees with projects in Utah, Jordan and Morocco, as well as a joint venture to develop leased lands in Wyoming with Questerre Resources.
Red Leaf Resource's vision is to be the technology of choice for the world’s most accessible oil shale reserves with the smallest environmental impact of any competing oil shale extraction process pursuant to creating lower-cost energy, jobs in local markets, revenues for the operating region and becoming a model for licensing and construction worldwide.
Red Leaf Resource's mission is to unlock the value in oil shales around the world in an economic and environmentally responsible manner.