Weatherford Acquires ClearWELL Technology

Weatherford International has reached an exclusive licensing agreement with Hydropath Ltd and Clearwell International, which are UK based fluid de-scaling system companies. A license and distribution agreement was signed on November 15, 2006.

Through this license, Weatherford now owns the exclusive rights in the upstream oil and gas market to the patented chemical-free treatment technology designed to prevent scale and paraffin deposition in the wellbore and associated surface equipment. The device is easily installed at the wellhead without interfering with well production.

"Application of this technology is revolutionary for the oil and gas industry," commented Larry Rzeznik, ClearWELL business manager. "It will prevent flow assurance problems due to scale or paraffin and completely changes the way these problems are managed."

This agreement is the result of significant technology evaluation over the past eighteen months in the laboratory and in the field. The technology was tested with thirteen different companies in six different regions around the world. The technology prevents scale or paraffin from depositing on equipment and piping walls.

Weatherford is the leading provider of all forms of artificial lift systems and well management programs. Used in conjunction with these products, ClearWELL will help improve equipment performance, extend run life and reduce operating costs for the producer.