Oil and gas operators have the unique opportunity to be part of the creation of new technology that is going to change the industry.Permian Token (XPR) Democratizes direct oil investments by eliminating the high entry fees and layers of bureaucracy that historically been a barrier to entry.
According to the Central Intelligence Agencys website, there are 1.665 trillion barrels of oil recoverable globally. On the other hand, a report by BP suggested that we have 53 years of proven oil supply left. Just 53 years!With the Permian Token we developed a solution to solve the working capital requirements of oil exploration & production companies and oil exploration and production economies, meanwhile democratizing the direct investment sector for the average investor.A major portion of the funds raised from the Permian Token (XPR) initial token offering will be dedicated to acquiring hard assets with Proven Reserves (the Reserves) by making a direct investment into existing upstream and midstream companies. The Proven Reserves are the reserves that are explored and identified as an estimated quantity of all hydrocarbons statistically defined as crude oil or natural gas, which geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions.
The acquisition targets and existing and future portfolio companies will be listed on the PermianChain platform (Platform Prospects). XPR tokens will be issued in proportion to the available offerings. Platform Prospects applicable for listing on the PermianChain platform are mainly upstream businesses or public entities with proved undeveloped
reserves and existing oil campaigns. The Reserves, once produced, will be sold to the midstream companies on our closed-loop-B2B-exchange via blockchain (PermianChain).
The Company is currently working on the development of a trust protocol for the oil & gas industry with distinct purposes:
a) The first purpose serves as a private trust protocol which traces XPR holders interest in the Reserves. The ledger provides information on oil production, oil supply, oil
demand and other traces of the underlying Reserves in question.
b) The second purpose is a Blockchain-as-a-Service technology (BaaS) which will serve as a closed-loop-B2B-Exchnge for oil & gas companies (the PermianChain). The
c) PermianChain will streamline exploration, production and shipping of oil via blockchain, smart-contracts and multi-signature features.
The third purpose of the PermianChain is to integrate an oilfield Artificial Intelligence and Blockchain for the purpose of generating data that would allow for more sustainable methods of oil exploration and production. Integrating an upstream artificial intelligence and eventually midstream and downstream components.
d) The fourth purpose of the PermianChain is to allow continued future developments of our technology to trace proven natural resources beyond oil & gas, to allow the world
access to proven natural resources.