Schlumberger and Production Plus Announce Joint Venture

HEAL Systems™ company will offer producers operating efficiencies and cost savings

The HEAL System offers a proven solution to mitigate slug flow that enables fewer, and simpler, artificial lift transitions while lowering production costs. (Graphic: Business Wire)

???pagination.previous??? ???pagination.next???

CALGARY, Alberta--()--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

About HEAL Systems, formerly Production Plus Energy Services Inc.

HEAL Systems is an oil and gas production optimization innovator that engineers and delivers reliable production and artificial lift enhancing systems to oil and gas operators. Its product, the HEAL System™, complements existing artificial lift systems, has no moving parts and benefits a well during any phase of its life cycle. The HEAL System has reduced operating costs in nearly 200 wells in over 35 formations across North America.

Contacts

For more information on the HEAL System:
HEAL Systems
Jeff Saponja, 403-472-1440
Chief Executive Officer
www.healsystems.com
jsaponja@healsystems.com
or
Darren Burrows, 403- 813-1112
Chief Financial Officer
www.healsystems.com
dburrows@healsystems.com

Release Summary

Schlumberger Limited and Production Plus Energy Services announce Joint Venture. HEAL Systems offers producers operating efficiencies & cost savings.

Contacts

For more information on the HEAL System:
HEAL Systems
Jeff Saponja, 403-472-1440
Chief Executive Officer
www.healsystems.com
jsaponja@healsystems.com
or
Darren Burrows, 403- 813-1112
Chief Financial Officer
www.healsystems.com
dburrows@healsystems.com