RE: RE: Stimulation Revenue Up? The stim news is the up to 2,325% increase in production with Weatherford at Pemex's Chiconopetec field. Powerwave BLEW AWAY the performance of the Weatherford chemical alone. WEE states that it anticipates a large order in the MD&A. As for the U.S. stim revenue we already knew budgets had to be replenished and they hadn't yet by that quarter beginning December. 23 TIMES more oil though with a global service provider. The last time WEE reported that kind of increase the stock shot to $5. Stims is a billion, per year, market. WEE is also now charging for the performance drilling tool meaning it is game on after concluding pilot testing. The Ecopetrol product was also installed opening up a significant new market.
"In the Chicontepec Basin, Mexico's largest certified hydrocarbon reserve, Wavefront and international service provider, Weatherford, successfully demonstrated the effectiveness of proper chemical placement in a 3-well evaluation of the combined technologies; 2 wells using Powerwave, with a chemical product versus 1 well using the same chemical product but with only conventional injection.
The results from the 2 wells using Powerwave, clearly demonstrate that proper placement of the surfactant/solvent/dispersant product lead to larger post-stimulation gains of 2,325% in incremental oil production as well as a viscosity improvement from 14 API to 15 API in well 1; and, 791% incremental oil production as well as a viscosity improvement from 18 API to 27 API in well 2. The result of the comparative non-Powerwave well 3 showed a similar viscosity improvement from 13 API to 17 API however the production gain was only 415%.
Based on these positive results the Company is anticipating a larger service order for more well stimulations with Weatherford in the Chicontepec Basin."
This time the powerwave stimulation results average 1558% vs the standard tool at 415%, a gain of 375%. These are the kind of results PEMEX was looking for when they set up the 6 test zones.