Superior Unveils New Well Enhancement Tech
USA Superior Energy Holdings, Inc., a company that develops and utilizes advanced technologies to increase oil production from underperforming oil wells, has introduced Cased Hole Horizontal Drilling (CHHD) as an oil well enhancement technology designed to increase oil production from both new and existing wells. CHHD is emerging technology that creates a passage for oil to flow more freely from the surrounding rock into the production tubing.
With oil prices per barrel at near historic highs, CHHD can enhance and rejuvenate oil production from many existing marginal wells and make them more profitable.
The technology requires drilling small holes into a portion of the casing which passes through the production zone. The holes or perforations provide a path for the oil to surge from the surrounding rock into the production tubing and allow for specifically directing the flow of oil exactly to or from where one wants it.
USA Superior aims to begin utilizing its advanced oil well enhancement technologies to increase production on two of its six exploration projects, namely its Bateman and Dale McBride projects in Texas, which currently produce 1,000 to 1,200 barrels of oil per month. Oil wells owned or leased by the company, as well as those of other companies that are unable to produce under ordinary conditions, may see increased production with the use of the company's state-of-the-art technologies. As such, USA Superior plans to acquire more semi-depleted oil fields and apply new technologies to enhance production, create a higher return on investment, and become a profitable energy stock.
The company eventually plans to offer its CHHD technology to other companies in the energy industry on a project basis for a fee or for a percentage of production.