DIVERGENT Energy Services Corp.
TSX VENTURE : DVG

DIVERGENT Energy Services Corp.

June 21, 2017 09:00 ET

DIVERGENT Energy Services Corp. Announces Update on Linear Pump

CALGARY, ALBERTA--(Marketwired - June 21, 2017) -

Not for dissemination in the United States of America

DIVERGENT Energy Services Corp. (TSX VENTURE:DVG) ("Divergent" or the "Corporation") announces that the Linear Electromagnetic Submersible Pump (the "Linear Pump") currently installed in a client well in Saskatchewan is shut down pending its removal from the well. The Linear Pump stopped operating during a lightning storm and after repeated auto-restarts the system shut down to protect the motor. It has since been determined that all the surface equipment is undamaged and in normal working order, however there is an undetermined electrical issue below surface. The client is scheduling a service rig to move onto the well and remove the Linear Pump for inspection. Once the issue has been determined and resolved, Divergent intends to reinstall the Linear Pump and continue the test. Updates on the status of the Linear Pump will be made available in due course. Earlier in the test, a similar storm caused the Linear Pump to shut down, however the Linear Pump was able to restart and continue pumping.

During the test, which lasted nearly 90 days, the Linear Pump performed exceptional at rates from 100 bbl/d and 135 bbl/d and under a variety of scenarios for stroke length and speed that resulted in valuable data to optimize the Linear Pump's efficiency. Once back in the well and continuing the test, the Linear Pump will be set to operate within the parameters that had indicated the highest level of efficiency.

ABOUT DIVERGENT ENERGY SERVICES CORP.

Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of Artificial Lift products and services that are used in the oil and gas industry. Products include Electromagnetic Pumps, Electric Submersible Pumps, and Electric Submersible Progressing Cavity Pumps.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain forward-looking information and statements. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Contact Information

  • Ken Berg
    President & Chief Executive Officer

    Scott Hamilton
    Chief Financial Officer

    DIVERGENT Energy Services Corp.
    1500, 715 - 5th Ave SW, Calgary, AB T2P 2X6
    (403) 543-0060
    (403) 543-0069 (FAX)
    www.divergentenergyservices.com