What are the new products and services that will help revitalize reservoirs and mature fields?
“No Money Down Revitalization” is a great deal. First, the operator who is really hurting in this low price environment does not have to put up any initial capital. Second, the service provider is able to charge a slightly higher price to account for the financing and the additional guidance. Finally, geologists and engineers are able to be paid for locating candidates, developing workflows, and overseeing the match-making out of the increase production.
Innovative and forward-thinking services companies are offering their new products and processes to operators with underperforming wells with the understanding that they will be paid for their products and services out of increased production. Some of those initial deals were forged at an AAPG Geosciences Technology Workshop in San Antonio in late 2015, and they’re now yielding positive initial results as formerly underperforming oil wells are now producing as much as 400% more barrels of oil per day. Now, more are expected as more companies and technical professionals came together in May 2016 for another AAPG GTW, this time in Houston, with the title of “New Thinking and Value Propositions in Exploration and Production.”
What are some of the “no money down” products and services?
Here are just a few of the companies that have new and improved technologies that will help revitalize reservoirs, especially in mature fields where problems such as low pressure, paraffin, corrosion, and other issues cause problems. Each of these companies is willing to offer a “no money down” approach, or other forms of innovative financing. This is an initial list. We’ll be talking to them about their success stories in the future, and we’ll provide more case study details. To learn more......