BERWYN, Pa., Feb. 14, 2020 (GLOBE NEWSWIRE) -- In a tight oil market, producing wells often do not receive as much capital allocation as new completions. Producers may generally believe that little can be done to enhance a well once it is completed.
A recent field study, however, shows that a simple treatment can greatly boost production from many existing wells. TenEx Technologies’ NanoClear® FD (Formation Damage) remedial chemical treatment has shown exceptional results in raising the decline curve of producing wells, delivering an ROI in about six weeks on average.
The study took place over a six-month period during which 35 wells across multiple basins were treated with NanoClear® FD. Treated wells produced an additional 30,000-plus barrels of oil in the six months following the treatment. The average ROI was just 46 days.
NanoClear® FD is designed to stimulate oil wells. It is environmentally friendly, non-toxic, safe to handle and is easy to pump because it is delivered as a fluid. NanoClear® FD provides a significant and sustained increase in hydrocarbon recovery by removing organic formation damage and altering wettability long-term. The product’s active nanoparticles act mechanically on the formation, and due to their polarity, they persist in the well for six months or more.
“NanoClear® FD offers operators an affordable means of getting increased value from their producing well inventory,” said TenEx Technologies CEO Eric Foster. “For wells with good current production, a NanoClear® FD treatment can result in significant recovery improvement. For poor wells, NanoClear® FD can extend a well’s life and delay its being plugged.”
For the customer, TenEx’s new technology outperforms existing products in four key areas. NanoClear® FD increases oil production and reduces water cut, inhibits future organic buildup, and sustains results for a long period of time.
About TenEx Technologies, LLC
TenEx Technologies, LLC, was founded in 2016 to focus on the development of proprietary, materials-based technology solutions with higher performance. For the same or lower cost to competitive or existing technologies, the company yields more oil over longer timeframes. The company helps cash-conscious E&P companies to economically boost production from existing wells.
For more information, contact:
Erica Gaffney
egaffney@tenextechnolgies.com
484-324-1316
http://www.pumpmoreoil.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/19cc58a8-275b-46f3-92f7-8f9e938313dd