STEP Energy Services Ltd. and Universal Chemical Solutions Inc. (UCS) have entered into an agreement on Feb. 4 that will facilitate the delivery of post-production stimulation services to energy producers working in the Eagle Ford Shale, Permian Basin, Niobrara-DJ Basin and Bakken Formation.
Single Shot IOR is a patent-pending, post-production stimulation technique that uses liquid petroleum gasses (LPG) and proprietary chemistry to mobilize hydrocarbons in shale or tight sand, oil bearing reservoirs. The Single Shot IOR system is designed to combat post-production challenges and access unproduced pay that has been left behind by completion efforts.
“The opportunity to utilize STEP’s LPG fracturing equipment and intellectual property with UCS’ Single Shot IOR technology is expected to represent a marked advancement in improved oil recovery methods,” Mike Burvill, VP of business development and innovation at STEP, said. “STEP expects that producers will be able to increase recovery rates of their declining assets with a single pumping treatment into the hydrocarbon bearing reservoir. This could represent a substantial cost saving when compared to other high pressure, compression oil recovery operations.”
In collaboration with interested energy producers, well candidates will be identified by STEP and UCS using reservoir modelling expertise.
“UCS brings the cutting edge Single Shot IOR technology while STEP brings experience and the unique specialized equipment necessary to deliver this technology,” Tadd Wallace, CEO of UCS, said. “We believe this relationship will provide significant value to the industry, especially in the current challenging environment for shale operators. We are excited to be a part of this effort to unlock resources previously thought to be unattainable.”
The award have resulted in over 150 new positions being created in the region and includes scopes that accelerates the company’s expansion in the drilling sector.
NTS Group has acquired Amega West Services, a market leader in the manufacture, repair and rental of legacy and specialized drilling equipment used in offshore and land-based oil and gas extraction applications, from Carpenter Technology Corp. on Oct. 12.
Churchill Drilling Tools, a global oilfield service company specializing in drilling innovation, said Oct. 30 it achieved four successful drill-string severs using its HyPR HoleSaver, following stuck pipe events across the Middle East, including two in the UAE.