CALGARY, ALBERTA--(Marketwired - May 30, 2016) -
(Not for dissemination in the United States of America)
DIVERGENT Energy Services Corp. ("Divergent" or the "Corporation") (TSX VENTURE:DVG) is pleased to announce
that a second-generation Linear Electromagnetic Submersible Pump (the "Pump") was installed in an oil well in Southeast
Saskatchewan on May 17, 2016. The Pump started without issues and is operating at expected pump efficiency and with a reduction
in average power draw as compared to the previous installation.
The Pump has been producing 19.7 m3/d (124 bbl/d) from a depth of 1,360m (4,462'). Pumping rates will be
incrementally increased towards the anticipated upper limit of 27 m3/d (170 bbl/d).
As compared to the Pump installed on January 22, 2016, the current Pump is using an average of 9% less electricity, which is
attributed to reduced friction within the motor and results from an improved lubricant.
The Corporation is pursuing additional installations with clients that have expressed interest in the Pump's potential to
reduce operating costs from both rod wear and electricity usage.
ABOUT THE PUMP
The Linear Electromagnetic Submersible Motor creates the reciprocating motion that is conventionally created at surface by
pumpjacks and transferred to the pump by sucker rods. By creating motion at the bottom of the well, the mechanical
efficiency is increased with the motor coupled directly to the downhole, reciprocating positive-displacement pump. The Pump
is powered and controlled by a variable frequency drive at surface via an industry standard electric cable that is attached to
the outside of the production tubing. The elimination of surface lifting equipment and sucker rods directly reduces
operating costs in environments such as deviated and horizontal wells.
ABOUT DIVERGENT ENERGY SERVICES CORP.
Headquartered in Calgary, Alberta, DIVERGENT Energy Services Corp. provides an array of artificial lift products and services
that are used in the oil and gas industry. Products include Linear Electromagnetic Submersible Pumps, Electric Submersible
Pumps and Electric Submersible Progressing Cavity Pumps.
FORWARD LOOKING STATEMENTS
This press release contains forward-looking statements, including, without limitation, statements pertaining to
the installation of additional hardware and the starting of the Pump. All statements included herein, other than statements
of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can
be no assurance that such information will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such information. A description of assumptions used to develop such forward-looking information
and a description of risk factors that may cause actual results to differ materially from forward-looking information can be
found in the Corporation's disclosure documents on the SEDAR website at www.sedar.com. Forward-looking statements are based on estimates and opinions of management of
the Corporation at the time the information is presented. The Corporation may, as considered necessary in the circumstances,
update or revise such forward-looking statements, whether as a result of new information, future events or otherwise, but the
Corporation undertakes no obligation to update or revise any forward-looking statements, except as required by applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.