Wavefront Technology Solutions Inc. (“Wavefront” or the “Company”), a technology service provider offering the oil and gas industry revolutionary technology that optimizes oil and gas recovery while minimizing the environmental impact of operations is pleased to announce that the Company, in conjunction with its local distributor, will commence a field trial of Wavefront’s Powerwave technology in the United Arab Emirates (“UAE”).
The client, a National Oil Company (“NOC”), and its subsidiaries cannot be named due to confidentiality provisions. Revenues from this initial field trial will be recognized over the period the stimulation or individual performance obligation(s) occur.
The procedures for this initial well stimulation with the NOC were developed utilizing the Company’s proprietary, dynamic good stimulation platform. The proprietary platform models fluid placement associated with Powerwave at discrete points in the good completion and provides a precise execution program for coiled tubing operators to follow.
“Wavefront has worked at length to secure Powerwave-related stimulations with the NOC and we are very optimistic of success in a challenging reservoir environment,” said Wavefront President and CEO, Brett Davidson. “The NOC’s decision to choose Powerwave over other stimulations methods for this well was strongly based on the impressive track record Powerwave has generated globally and more specifically in the Middle East. We look forward to servicing the NOC long into the future.”
(Except for the headline, this story has not been edited by The Technology Express staff and is published from a syndicated feed)
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