Upwing Energy, an artificial lift technology company, and Mitsubishi Heavy Industries (MHI), one of the world’s leading industrial firms, have been awarded the next phase of the magnetic drive system (MDS) project by DeepStar, a global offshore research and development consortium, on June 24.
Weatherford International Plc said June 24 its production optimization software platform increased production by nearly 6,000 barrels per day (bbl/d), boosting revenue by $156 million over three years for a Middle East operator.
Included in this agreement is cooperation with nybl to deliver a joint solution that will connect and optimize an initial 2,000 oil wells in North America and Kuwait. Cooperation on this solution is now underway.
Post Oak Energy Capital affiliate Balcones Energy Holdings, in partnership with certain individual investors, sold the equity interests in Precision Compression Services in an all-cash transaction.
An ESP system features an electromagnetic design and better efficiency as production rates decline.
Digital intelligent artificial lift technology simultaneously enables enhanced recovery from dual-string gas-lift wells.
Today’s featured 25 Influential Women in Energy honoree is Shauna Noonan, director of artificial lift at Occidental Petroleum Corp. and president for the Society of Petroleum Engineers.
The new method uses the co-injection of gas and liquids to perform the actual artificial lift, removing downhole equipment from the equation.