RE: The Steve Byle Effect?8 Jun 2026 15:22
Valkor is currently drilling exploration and pilot wells at its Asphalt Ridge project in Utah, with a planned autumn 2026 drilling window for new joint-venture wells on adjacent leases. The company is executing a phased pilot program targeting heavy sweet oil and oil sands extraction.Key project timelines and drilling milestones include:Asphalt Ridge Pilot Wells: Valkor has previously secured state drilling permits, advanced their field surveys, and raised over US$15 million in project financing to drill and develop the Primary Project Site.Deep Well Trials: The company is testing specialized drilling techniques to reach deeper oil below the main oil-sands layer, aiming to optimize a commercially viable methodology.Joint Leases in Uintah County: Through their joint operating agreement with TomCo Energy, Valkor is targeting autumn 2026 to commence operations on the neighbouring Lease Area.Production Goals: Alongside ongoing drilling and well stimulation, Valkor aims to construct and commission a fully funded, full-scale asphalt extraction plant, targeting production by the end of 2026.You can find official company updates and corporate developments via the Valkor Group News hub.