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Highlands Natural Resources reports high purity levels at Kansas nitrogen project

Published: 08:18 29 Jun 2018 BST

Nitrogen on periodic table
The purity levels are above those required for use as a preserving agent

Highlands Natural Resources Plc (LON:HNR) has reported high nitrogen purity levels from tests at its Barret 1-14B well in Kansas.

The oil and gas producer said flow tests had indicated initial nitrogen purity levels of over 99.59%, above purity levels for nitrogen used as a preserving agent by food and beverage companies and could therefore be used by this industry immediately.

READ: Highlands Natural Resources says drilling timetable revised at East Denver project as it tests a new technique

The group also said that the flow rate of the well has increased to 2,581 million cubic feet per day (Mcfpd) from 1,769Mcfpd in the initial flow test.

Highlands said at these indicative levels, with numerous oil and gas fields in neighbouring states, it may soon be in a position to secure much of its nitrogen supplies for its DT Ultravert needs more economically.

The group added that it was also in talks with nitrogen users in the industrial, oil and gas and agricultural sectors to explore sales opportunities.

Robert Price, chief executive of Highlands, said: "Now that the purity of our nitrogen has been confirmed, Highlands is advancing discussions with industrial, oil and gas and agricultural users. This represents a significant, and potentially very valuable addition to our portfolio of projects.

He added: “From an initial plan to secure low cost supplies for DT Ultravert, we may have sufficient volumes to explore entry into other industries as well thereby creating a new revenue stream for the Company."

In early morning trading Friday, Highlands shares were up 2.6% at 19.6p.

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