Eagle Oil Holding Company, which had previously announced that its East Texas oil field would serve as the North American pilot project for an oil well production enhancement technology developed in Russia, now announces the start of the pilot project.
The specialized equipment, which passes electrical impulses through an oil reservoir, is designed to change the normal mix of oil and water extracted from an oil well during the pumping process by increasing the percentage of oil and decreasing the percentage of water pumped.
This is intended to result in more oil and less water being extracted from a well on a daily basis.
The system has been successfully used to increase production in oil wells in Russia and other European locations. While no significant production increases can be guaranteed, the system’s inventors predict that daily oil production can be increased up to several-fold per well in operation for varying periods of time.
The initial phase of the project implementation consists of evaluating the geographic characteristics of specific oil wells to be treated, and is expected to cover up to 20 of EGOH's wells. Based upon this evaluation phase, additional reconditioning work may be required on some of EGOH's oil wells prior to the commencement of treatment and production.
As the pilot site, EGOH will benefit from the system without any up-front financial commitment. The agreement between the parties calls for a back-end revenue split of any increased production realized.
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