CALGARY, Dec. 16, 2013 /CNW/ - Raise Production Inc. (TSXV:RPC) ("Raise"
or the "Company") is pleased to provide its shareholders with an update
on the testing and development of its horizontal wellbore production
system (the "System").
An upcoming deployment is the second of three planned graduated tests of
the System, and follows a successful deployment of a prototype System
in August, 2013.
This System is designed to closely resemble a commercial configuration
with pumping units that will be aligned across the entire length of the
horizontal section of the test wellbore.
All pumping units have been assembled and successfully tested in Raise's
facilities in Calgary.
After collaboration with the Company's oil & gas industry partner and
other service providers, in light of the holiday season deployment is
scheduled for the week of January 12, 2014. The deployment will be in
the same wellbore as the previous prototype test System which is
located in a Viking reservoir near Kindersley, SK.
Raise and its oil & gas industry partner will operate a test period for
this System which is anticipated to last at least 90 days and will
provide no further commentary until the conclusion of the testing.
Eric Laing, CEO of the Company, commenting on this deployment said "I am
very excited to be deploying what is essentially a commercial scale
System. With what we learned from our previous installation and
covering the entire length of the lateral, I'm anticipating this test
period will materially advance our understanding of horizontal flow
management and the potential of this unique technology. I do want to
remind all shareholders that this remains a test System and we are
still in the research and development stage."
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its
efforts on the production service sector, utilizing its patented
products to enhance and increase ultimate production in both
conventional and unconventional horizontal oil and gas wells.
This news release contains certain forward-looking statements. All
statements, other than statements of historical fact, are forward
looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and
actual results and future events could differ materially from these
anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this news
SOURCE: Raise Production Inc.
For further information:
Eric Laing, President and Chief Executive Officer
Susan Scullion, Chief Financial Officer
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Web site at: www.raiseproduction.com