Reveal Energy Services has entered into a technology licensing and development agreement on July 6 to commercialize ConocoPhillips’ patented poroelastic response measurement (PRM) technology, and the companies will perform joint research and development in the PRM technology space.
Reveal Energy Services will integrate this novel technology for mapping hydraulic fractures and real-time fracture monitoring into its IMAGE Frac service. IMAGE Frac, developed under an exclusive license from Equinor since 2016, provides simple, accurate, affordable fracture maps based on pressure measurements in offset wells. It has been used to quantify fractures in more than 30,000 hydraulic fracturing stages in the U.S. and Canada.
"We are delighted that ConocoPhillips has chosen to collaborate with us," Sudhendu Kashikar, CEO of Reveal Energy Services, said. "This agreement propels Reveal Energy Services into a strong leadership position in hydraulic fracturing diagnostics using low-cost pressure data. Operators will be able to optimize completion designs and well spacing, not just for science pads but for all projects. Reveal Energy Services is leading a fracture diagnostics culture change to continuous monitoring with continual innovation in software and services.
Since 2016, Reveal Energy Services' R&D has resulted in 12 issued patents and numerous industry awards for innovation. The latest of these is the recently released ORCHID completions evaluation platform, the industry's only software that integrates all sources of diagnostic data to empower profitable development decisions faster.
Recommended Reading
TotalEnergies Starts Production at Akpo West Offshore Nigeria
2024-02-07 - Subsea tieback expected to add 14,000 bbl/d of condensate by mid-year, and up to 4 MMcm/d of gas by 2028.
Well Logging Could Get a Makeover
2024-02-27 - Aramco’s KASHF robot, expected to deploy in 2025, will be able to operate in both vertical and horizontal segments of wellbores.
Shell Brings Deepwater Rydberg Subsea Tieback Onstream
2024-02-23 - The two-well Gulf of Mexico development will send 16,000 boe/d at peak rates to the Appomattox production semisubmersible.
E&P Highlights: Feb. 26, 2024
2024-02-26 - Here’s a roundup of the latest E&P headlines, including interest in some projects changing hands and new contract awards.
Remotely Controlled Well Completion Carried Out at SNEPCo’s Bonga Field
2024-02-27 - Optime Subsea, which supplied the operation’s remotely operated controls system, says its technology reduces equipment from transportation lists and reduces operation time.