Skye Petroleum, Inc. is pleased to announce that chemical sales have more than tripled in 2013 versus 2012.
Skye anticipates continued strong sales growth in 2014 as the paraffin and aphaltene dispersant technologies are introduced into more regions of the United States and in certain parts of the world. Skye will complete 2013 with its strongest cash position in recent years, with no short or long term debt, and with all current liabilities paid.
Gerald Weber, CEO of Skye Petroleum, Inc. stated, "We have worked hard for several years to bring Skye Petroleum's Balance Sheet into a place that can produce the rewards for the shareholders that we are beginning to see. We enter 2014 on our best financial footing we have seen since I joined the company, while at the same time we are seeing the greatest expansion of chemical sales in our history." Weber further said, "We are expanding our team with the addition of Robert Reis as VP of Operations. He brings a wealth of experience and contacts to the company and has thus far proven to be an exceptional leader and producer."
Skye Petroleum has begun to introduce its products to new applications where crude oil releases residue of paraffin and asphaltene in areas such as tank bottoms, terminals, pipelines and all manner of crude oil transportation. The company is experiencing great interest from companies battling these issues and is in the process of setting up testing on a pipeline in North Dakota, while currently testing sludge deposits in Louisiana, whereby converting the sludge into salable oil.
Halbouty Energy has been instrumental in marketing the products of Skye Petroleum and is currently reaching out to new areas that Skye has not penetrated. Michel H. Hewitt, President of Halbouty Energy stated, "We have never seen a product line produce this kind of immediate interest as these products have generated with the companies we have spoken to in the oil industry. There is a great need for these kinds of dispersants and we intend to penetrate the market significantly going forward. We anticipate 2014 to be a great year for both Halbouty Energy and Skye Petroleum."