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:
“You that would judge me do not judge alone
This book or that, come to this hallowed place
Where my friends’ portraits hang and look thereon;
Ireland’s history in their lineaments trace;
Think where man’s glory most begins and ends
And say my glory was I had such friends.”
—William Butler Yeats (1865–1939)
“Whenever we read the obscene stories, the voluptuous debaucheries, the cruel and torturous executions, the unrelenting vindictiveness, with which more than half the Bible is filled, it would be more consistent that we called it the word of a demon than the Word of God. It is a history of wickedness that has served to corrupt and brutalize mankind.”
—Thomas Paine (1737–1809)
“... in America ... children are instructed in the virtues of the system they live under, as though history had achieved a happy ending in American civics.”
—Mary McCarthy (1912–1989)