CALGARY, Jan. 24, 2014 /CNW/ - Raise Production Inc. (TSX-V:RPC) ("Raise" or the "Company") is pleased to provide its shareholders with an update regarding the next stage of field testing its horizontal wellbore production system (the "System").
These operations were performed in the same wellbore as the previous prototype test System located in a Viking reservoir near Kindersley, Saskatchewan.
The recent field operations included:
- the successful retrieval of the two pump prototype System originally deployed in August of 2013; and
- the successful deployment of a new prototype System designed to closely resemble a commercial configuration with pumping units aligned across the entire length of the horizontal section of the test wellbore.
Raise is currently commissioning its start-up procedures for the new System. Following start-up, 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.
This is the second of a graduated three deployment test program for the System.
Eric Laing, CEO of the Company, commenting on this deployment said "at this point we have now proven the retrieval and deployment of multiple pump sections is possible in close tolerance wellbores. The old prototype came out of the ground and the new System was deployed to the end of the existing wellbore without any issues. I am very proud of our Company for landing the world's first multi pump completion in a horizontal well bore. We will now move into commissioning and then testing the System as we continue to learn and progress our technology."
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.
For further information:
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