This news is classified in: Traditional Energy Oil and Gas
Apr 24, 2017
Wavefront Technology Solutions Inc. (Wavefront or the Company), (TSX VENTURE:WEE)(OTCQX:WFTSF) an Oil Field Service ("OFS") provider focused on enhancing hydrocarbon recovery through the lifecycle of a production asset is pleased to announce that broader field deployment of Wavefront's core fluid injection technology, Powerwave, will be undertaken in the Sultanate of Oman.
A Powerwave-driven waterflood targets stranded or bypassed oil in a reservoir which is very difficult to produce due to various physical limitations. Based on positive results from a limited field trial of Powerwave Wavefront's distribution partner in Oman was awarded the approximate US $500,000 contract for expanded Powerwave use. This previously anticipated Powerwave program was delayed due to lower and volatile oil prices over the past few years. Powerwave deployment is in the client's scheduling phase and is anticipated to commence in the second half of calendar 2017.
"Wavefront is confident it can replicate or better initial field pilot results which saw oil production decline rates fall by approximately 4% and overall oil production rates within the field pilot area improve by up to 47%," said Wavefront President and CEO Brett Davidson. "We believe that demonstrating Powerwave efficacy on a broader scale across varied geological settings will result in general commercialization of Powerwave with this client."
