With increased and improved data collection, gas-lift optimization can be automated across the full field and lead to operational discoveries that make an economical lift type even more cost effective.
Weatherford International Plc has been awarded an exclusive two-year, $15 million contract with a major independent operator in Argentina on July 22.
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.