In the quest to get more oil from the ground, Glori Energy is enlisting microbes.
The Houston, Texas-based company today filed to go public on the stock market in a bid to raise $115 million with a biotechnology designed to extract more oil from existing wells.
Well more than half of the oil in oil wells typically stays trapped underground because conventional techniques can't reach it all. About 10 percent to 15 percent of available oil can come out based on pressure. Then drillers flood wells with water in one well to help push the oil out of a … Read more