Company eyes 700 million-barrel potential in oil shale tract

A subsidiary of a Boston-based company plans to test oil shale development technology on private land in western Colorado’s Piceance Basin. General Synfuels International said in a recent news release it has obtained access to about 500 acres with the near-term potential to recover about 700 million barrels of oil or oil equivalents. GSI said it plans to pursue what it considers to be a breakthrough technology that has low environmental impacts and is “energy-self-sustainable.” The technology is a gasification process that would be applied to oil shale still underground. GSI officials could not be reached for comment Friday for specifics on the acreage location or the company’s gasification process. GSI also said it has reached an exploration agreement with a subsidiary of Anadarko Petroleum Corp. in Wyoming. The agreement covers about 160 acres on a Union Pacific Railroad section near Rock Springs. Together, the two agreements will let the company test and develop its technology to recover fuels from oil shale, oil sands and heavy oil...GJ Sentinel