Increase Oil and Gas Production Without Drilling New Wells2021 June 16
Want to increase your oil production and take advantage of high oil prices without drilling new wells? Add an XFER to reduce your casing, wellhead, and flowline pressures, to maximize production from your existing wells.
WTI oil prices have climbed to USD $72/bbl in recent days, which has left oil and gas producers wondering how they can capitalize on these very profitable prices.
However, corporate capital constraints and targets have restrained new well drilling activity. Companies are largely repairing their balance sheets after COVID caused prices to collapse in the spring of 2020, and investors are demanding a return of capital through dividends and share repurchases, rather than investing in new oil supply. Add to that the pressure from ESG investors to reduce emissions and transition to renewable energy, and we are left with companies wanting to take advantage of higher prices, but not sure the best way forward.
An obvious alternative to drilling new wells is to maximize production from existing ones. One of the easiest and most profitable ways to increase production from existing wells is to lower casing, flowline, and wellhead pressures, which allows more oil and gas to find its way to the surface. IJACK customers have seen greatly increased production after adding one or more of IJACK's patented compressors.
IJACK offers the DGAS as a bolt-on solution for conventional pumpjacks, the EGAS as a standalone, fully-automated and remote-controllable gas compressor that can handle liquids as well, and the XFER, our flagship multiphase fluid pump that can handle 100% liquids, 100% gas, or anything in-between. The XFER multiphase transfer pump will lower your casing, well and flowline pressures simultaneously, and pump your emulsion directly from wellhead to the facility with no equipment in between. Quick install times, small footprint, remote control and monitoring make it easy.
In addition to increasing oil and gas production, adding compression equipment to existing sites can reduce both CO2 and methane emissions. Lower casing, flowline, and wellhead pressures mean fewer methane leaks while eliminating the need for flaring and venting. IJACK's compression equipment can also eliminate the need for entire costly facilities.
Many of IJACK's customers are seeing substantially reduced operating and capital costs by eliminating entire facilities. Why separate gas from oil, and pump them separately, when one or two XFER pumps can achieve the same flowline pressure reduction at a fraction of the cost? Not only are customers decommissioning entire facilities, but they are also saving on operating costs by using substantially less horsepower, which means much lower power costs and reduced carbon footprint.
Contact us for more information. We'd love to help.