History
EGL Oil Shale was established as a subsidiary of EGL Resources, a privately owned independent oil and gas company with operations in the southwestern United States. In 2006, it was awarded a lease by the United States Bureau of Land Management to develop and demonstrate its in-situ oil shale extraction technology in Western Colorado. On 22 January 2008, IDT Corporation and EGL Resources signed an agreement, according to which IDT acquired 75% of EGL Oil Shale and renamed it AMSO, LLC. AMSO was formed on 15 February 2008. Shortly thereafter, IDT bought an additional 15% of AMSO. Subsequently, on 3 March 2009, French oil major Total bought 50% of AMSO's shares for $3.2 million, with EGL Resources selling their remainder and IDT retaining 50%. IDT's share was subsequently transferred to Genie Energy, which was split off from IDT on October 31, 2011.
In 2007, the company was awarded the Bureau of Land Management oil shale research, development and demonstration lease in Rio Blanco County, Colorado. AMSO started its pilot well in January 2012, but the operations were interrupted shortly afterwards due to technical problems with a 600 kilowatt electric heater. The operations to be restarted in December 2012.
Read more about this topic: American Shale Oil
Famous quotes containing the word history:
“Considered in its entirety, psychoanalysis won’t do. It’s an end product, moreover, like a dinosaur or a zeppelin; no better theory can ever be erected on its ruins, which will remain for ever one of the saddest and strangest of all landmarks in the history of twentieth-century thought.”
—Peter B. Medawar (1915–1987)
“The history of literature—take the net result of Tiraboshi, Warton, or Schlegel,—is a sum of a very few ideas, and of very few original tales,—all the rest being variation of these.”
—Ralph Waldo Emerson (1803–1882)
“All things are moral. That soul, which within us is a sentiment, outside of us is a law. We feel its inspiration; out there in history we can see its fatal strength.”
—Ralph Waldo Emerson (1803–1882)