Wavefront Executes Powerwave Agreement with California Operator
Wavefront Technology Solutions announced that a privately held, Los Angeles County-based producer will initially deploy three Powerwave systems to improve oil recovery and increase total reserves in an active waterflood.
The main drivers for oil producers to employ Powerwave include:
- Cost-effective method for maximizing oil production with existing wells and infrastructure;
- Opportunity for rapid payback and significant return on investment through increased oil production;
- Could minimize further well drilling leaving a smaller environmental footprint;
- Possibility of reducing the amount of water required to produce additional reserves;
- May extend field life and increase overall asset value by providing greater ultimate oil recovery; and,
- Potential to re-visit legacy oil fields for another round of production.
"Wavefront has been fielding inquires from around the globe on the potential benefits Powerwave can bring to production operations," said Wavefront President and CEO Brett Davidson. "We have added new sales personnel in various jurisdictions to capitalize on the growing interest and demand for information. As results generated by Powerwave are better known and understood throughout the industry, we anticipate more oil producers will use Powerwave for both single well stimulation and long term flooding applications."