TSXV:WEE.H - Post by User
Post by
Everswanon Dec 22, 2009 5:53pm
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Post# 16612242
PEMEX desperate for oil recovery
PEMEX desperate for oil recovery
https://online.wsj.com/article/BT-CO-20091222-709784.html
Looks good to me.
Pemex sign deal on October 27, 2009
Already on Dec 15, 2009 it start deploying Powerwave systems.
That's pretty fast deploymenet to me.
Also, more info on PEMEX
https://uk.reuters.com/article/idUKN1113583020091211
Mexican oil production has slumped by nearly a quarter since peaking in 2004, and although officials have said they are confident output can be held steady at current levels of around 2.5 million barrels per day over the next several years, Pemex is anxious to gain access to new technologies.
...
Chicontepec is believed to hold billions of barrels of crude in more than two dozen fields but producing the oil is challenging due to low reservoir pressure and challenging geological formations that lock the oil into tight formations.
Slam dunk to me.