A Scottish technology company is celebrating a key milestone in the commercialisation of its product, with potential to transform the global oil and gas industry.
Delphian Ballistics has deployed 150 of its TriStim perforation guns across the US and Canada in January alone. The company has lined up a healthy pipeline of work for 2016, with a large order on route to New Zealand which will be deployed next month.
The firm, which designed the system to be used in both conventional and unconventional wells, is firmly on track to meet its projected revenue in 2017 after completing its break-through onshore fracking project in Oklahoma last year.
Stuart McLeod, managing director of Delphian Ballistics, said, “The First Minister of Scotland, Nicola Sturgeon, identified enabling technology as a key area the Scottish Government wants to focus on to help remove barriers to exploration. Delphian has a technology that oil services companies see as a differentiator in the worldwide battle between efficient extraction of hydrocarbons and costs. In the current industry climate this has become even more important and we have a product that can respond to the demands of the challenging landscape.
“Our documented project in Oklahoma affirmed the merits of TriStim and showed it has the capability to significantly enhance fracture dynamics. It is also a major part of the solution to maximise production from conventional wells and ageing infrastructure.”
As part of its global roll out campaign, Delphian Ballistics has signed a collaboration agreement with a leading service provider in Canada and is poised to sign up further partners in New Zealand, the US and the Middle East.
“There is a firm mandate from operators to increase production and reduce costs, our perforating gun is an elegant solution to both these demands. I am delighted our collaboration partners will now be able to offer their clients a cost-effective way of significantly enhancing well productivity with no additional risk or downside.”
The technology is based on the physics of ballistics and the placement of power and Mr McLeod insists it has no direct competitor in the marketplace.
“TriStim offers a smarter way to perforate,” he continued. “Whether for conventional production, fracking or for stimulation, it delivers enhanced perforations resulting in increased well productivity and enhanced fracture dynamics.
“The technical capabilities of TriStim, created from an understanding of the physics of ballistics which harness converging shockwaves to produce a cleaner, bigger and deeper hole, are now well documented and understood.
“For conventional wells the implications of improving hydrocarbon flow, and hence increasing productivity, go far beyond simply producing more barrels per day.
“TriStim makes depleted and uneconomic assets viable again, whether individual wells or entire fields.
“It cuts the time taken to exploit individual wells by reducing the lifecycle cost, whilst also extending the scale of the project. Ultimately, TriStim increases asset value, recoverable hydrocarbon reserves and shareholder value.”