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 release.
SOURCE: Raise Production Inc.
Eric Laing, President and Chief Executive Officer
E-mail: [email protected]
Susan Scullion, Chief Financial Officer
E-mail: [email protected]
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Web site at: www.raiseproduction.com