CALGARY,
Aug. 22, 2013 /CNW/ - Raise
Production Inc. (TSX-V: RPC) ("Raise" or the "Company") is pleased
to announce it has successfully deployed and commissioned its
proto-type horizontal wellbore production system (the
"System").
During the week of August
12, 2013, the Company deployed its first System in a
horizontal well producing from the Viking formation in Kindersley, Saskatchewan. Installation
of the System occurred as planned and no issues were encountered in
maneuvering the System through the build and horizontal sections of
the wellbore.
Following deployment the Company began
commissioning the surface unit that controls the System. Over
a three day period efforts were focused on integrating operation
between the surface unit, the pumps within the System, the existing
vertical lift in the wellbore and field facilities. At this
time, the Company is pleased to report the System is mechanically
operating as expected and attention will now turn to following
performance testing protocols over a 60 day test interval.
Eric Laing,
President and Chief Executive Officer of the Company, stated "we
have accomplished a lot with this deployment. We proved our
System can be installed in the horizontal section and our pumps are
operating downhole and controlled at surface by our equipment. For
a first attempt at deploying a new piece of oilfield technology I
would say the operation was flawless." Commenting on the test
period, Mr. Laing said "this is a proto-type system designed with
only two pumps so it doesn't reflect a commercial scale
System. As planned in conjunction with our industry partner,
over the next 60 days we will allow the well to cleanup and
stabilize, adjust operating variables and experiment with System
performance and gauge reservoir response. We are on the front
end of our learning curve, but we are very excited about our
progress to date."
Raise anticipates providing an update regarding
System performance at the conclusion of the 60 day test period and
analysis of those results.
About Raise Production Inc.
The Company is an innovative oilfield service
company that focuses its efforts on the production service sector,
utilizing its patented products to enhance and increase ultimate
production in both conventional and unconventional horizontal oil
and gas wells.
This news release contains certain forward-looking
statements. All statements, other than statements of
historical fact, are forward looking statements that involve
various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from these anticipated in
such statements.
Neither 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 news release.
SOURCE Raise Production Inc.
