RE:RE:Earnings date?CFO just resigned to pursue other interests.
I wonder if his Linkedin gives us the reason why - to pursue commercialization of this jet pump?
Overview
Historically, jet pumps have been an overlooked and underutilized technology in the oil and gas industry. Today, an improved jet pump design, combined with a number of other technical innovations has created a wide range of new and exciting jet pump applications. Several key performance parameters differentiate this jet pump process from conventional artificial lift systems. Most significantly – there are no downhole moving parts, it is not affected by hole angle, it won’t gas lock and it is able to lift sand. The equipment in its current configuration is very efficient as an artificial lift system – something that has always been a problem for conventional jet pump systems. This new pumping system has been successfully deployed in a variety of oil and gas wells in Western Canada for permanent pumping operations. The following is a listing of the well types which benefit from these performance advantages: This process and equipment has now been adapted for use in an innovative cleanout / workover process where load fluids and sand can quickly and easily be vacuumed from a wellbore in an underbalanced condition. This new system is set up for rapid deployment, often able to perform 2 to 4 well cleanouts per day. Successfully operating in Canada, a successful US project has been completed and discussions are underway for expansion to Europe and the Middle East.
- Website
- https://www.sourcerock.ca