Wavefront Technology Solutions Inc. is optimistic it has opened a business valve for a potential flood of service orders for its oil and gas waterflood valves.
The Edmonton-based company, with a field office in Lloydminster, has received initial orders for its Powerwave Neptune pulsating selective injection valves along with its Powerwave Odyssey custom oil and gas well stimulations.
The service orders for the valves are from an undisclosed Wavefront client received through their local distributor.
The client is a major global oil producer has been active in Colombia for more than 40 years, having operations in the Llanos Norte Basin as well as working interests in the Middle Magdalena Basin.
“We are very pleased to have these new orders from a major Colombian oil producer who is Wavefront’s largest client in the United States and who also has experienced the benefits of the Powerwave Odyssey custom stimulation approach in Oman,” said Wavefront’s chief executive, Brett Davidson in a news release on Oct. 17.
Davidson said due to confidentiality the company cannot release terms and conditions of the service orders from its client but the potential for growth is huge.
“In Colombia the available market for the Powerwave Neptune is approximately 1,000 injection wells having five to seven selective injection valves within each well completion,” he said.
The Powerwave Neptune is marketed by Wavefront as being an innovative pulsating selective injection waterflood regulator valve.
Waterflood regulator valves are designed to inject water into a desired formation zone, but are often faced with scaling issues which negatively affects water injection and offsetting oil production.
The Powerwave Neptune solves that by creating highly energized fluid pulses designed to ensure seamless, continuous injection, enabling oil producing companies to optimize oil recovery by maintaining water injection rates and improving water distribution in the oil-bearing formation.
The Powerwave Odyssey tool provides for pinpoint fluid injection and deeper fluid penetration along the entire length of a completed interval in a well.
The typical radius of penetration into the formation for a stimulated well is greater than three feet eliminating the need for costly fracking or chemical jetting.