SOURCE: Production Plus Energy Services Inc.

Production Plus Energy Services Inc.

October 06, 2015 08:00 ET

Innovative Technology Increases Productivity of Horizontal Wells

Desire to Lower Operating Costs Drives Rapid Adoption of Heal System™ From Production Plus Energy Services Inc.

CALGARY, AB--(Marketwired - October 06, 2015) - Production Plus Energy Services Inc. recently completed the 50th install of its patent-pending HEAL System™ in the Western Canadian Sedimentary Basin (WSCB) -- a significant milestone since its commercial release just 12 months ago and a true start-up success story in a struggling energy industry.

"We were intrigued by the Production Plus team's research and expertise into the root causes of artificial lift problems in horizontal wells," said Dallas Mohagen, Completions Engineer with Crescent Point Energy Corp. "The HEAL System™'s unique approach to addressing those problems has never been done before, and helped us increase our production and lower our operating costs."

Over the past year, Production Plus has expanded its reach with multiple operators across the major plays of the Western Canadian Sedimentary Basin. In today's challenging operating environment, Canadian energy companies are looking for ways to maximize production and limit their operating costs. The HEAL System™ offers a new, viable option for the Canadian energy sector as it strives towards efficiencies in extraction.

The Horizontal Enhanced Artificial Lift System, or HEAL System™, is a technology solution that complements existing artificial lift systems to regulate flow, reduce fluid density, resolve gas interference, and address solids problems in horizontal wells. Horizontal wells with a HEAL System™ achieve reliable runtime, increased drawdown and reduced workovers, which significantly lowers operating cost -- a key driver of the product's rapid adoption.

"Artificial lift systems available today have been optimized over decades for use in vertical wells," said Jeff Saponja, CEO of Production Plus and one of the co-inventors of the HEAL System™. "If placed in a horizontal well, however, these systems become highly challenged. In my time as a producer, we were not able to find a solution to address these challenges, so we took a completely different approach and invented the HEAL System™ for use in our own wells. The positive response to our recent commercialization of the technology reflects a genuine need in the market for this solution."

Production Plus recently installed the first HEAL System™ into the Niobrara formation of the United States DJ Basin. Production Plus continues to expand across North America, adding value and visibility for operators in the Bakkan play, DJ Basin, Permian Basin and Eagleford shale play in the US, while continuing to actively install the HEAL System™ throughout the WCSB in Canada.

About Production Plus Energy Services Inc.

Production Plus is an oil and gas production optimization innovator that engineers and delivers reliable artificial lift enhancing solutions to oil and gas operators. Our Horizontal Enhanced Artificial Lift System supports existing artificial lift systems, settling the messiness of horizontal flow and lifting fluids up to the vertical where the pump can operate reliably. The HEAL System™ has no moving parts and benefits a well during any phase of its life cycle. The System has reduced operating costs in over 50 wells in North America with operators experiencing a material improvement in production and reserves in the order of 10 to 30 per cent.

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