Schlumberger and Production Plus announce joint venture

Source: Business Wire

Schlumberger Limited and Production Plus Energy Services are pleased to announce creation of Joint Venture (JV) Entities for the purpose of developing the HEAL System™ technology and business.

 

CALGARY, Alberta--(BUSINESS WIRE)--Schlumberger Limited and Production Plus Energy Services are pleased to announce creation of Joint Venture (JV) Entities for the purpose of developing the HEAL System™ technology and business. Effective on May 31st, the JV began functioning globally as HEAL Systems™.

This joint venture will offer producer’s global accessibility, enhanced quality control and assurance, as well as greater certainty regarding the beneficial capabilities of the HEAL System™. The JV will autonomously develop its business in the United States and Canada, whereas outside of those defined regions, Schlumberger will be the sole distributor of the HEAL System technology.

“Producers are looking for proven solutions to reliably produce their wells as efficiently as possible over the entire production life cycle. Our mission with the HEAL System is to deliver those solutions,” said Jeff Saponja, Chief Executive Officer of HEAL Systems™.

Benefits of the HEAL System

Horizontal wells are known to have production challenges as a result of inconsistent multiphase slug fluid flow, damaging solids and excessive pump gas interference. Production through the life cycle of horizontal wells often requires complex and expensive artificial lift strategies. The HEAL System offers a proven solution to mitigate slug flow that enables fewer, and simpler, artificial lift transitions while lowering production costs. An example result, as indicated by the gas production rate, is shown as follows:

With no moving parts, the HEAL System easily integrates into standard horizontal well completions and is designed to perform over the life of the well. The products in the HEAL System™ suite are designed to benefit a horizontal well’s entire producing life – controlling frac flowback, extending the natural flow period, simplifying transition between artificial lift phases, lowering operating expenses, eliminating costly intermediate artificial lift and cost effective protection from damaging offset inter-wellbore communication (frac-hits).

The HEAL System has consistently achieved productivity increases of more than 30% to over 100% in typical horizontal wells across Western Canada and the United States

 

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