Wavefront Technology Solutions (V.WEE, StockForum), cutting-edge developer of fluid injection optimization technologies, signed on to provide Powerwave for an initial 48 well simulations to be carried out by Weatherford Colombia.
According to the company's press release, “Under the terms of the agreement Wavefront will provide Powerwave tools to be used in Weatherford's Wec-Flow process.”
Brett Davidson, Wavefront president and CEO, described the company's heartbeat and direction, “Wavefront's focused strategy to grow the well stimulation segment of its product line is yielding positive results and the Corporation will continue to open new markets and opportunities through reputable services providers such as Weatherford."
Providing technologies for improved oil recovery and groundwater restoration, Wavefront made news recently by opening books on their third quarter.
Share values increased 20% upon the news to $0.24 per share.
Presently there are 82,956,240 outstanding shares with a market cap of $19.91 million.