CALGARY,
Jan. 24, 2014 /CNW/ - Raise
Production Inc. (TSX-V:RPC) ("Raise" or the "Company") is pleased
to provide its shareholders with an update regarding the next stage
of field testing its horizontal wellbore production system (the
"System").
These operations were performed in the same
wellbore as the previous prototype test System located in a Viking
reservoir near Kindersley,
Saskatchewan.
The recent field operations included:
- the successful retrieval of the two pump prototype System
originally deployed in August of 2013; and
- the successful deployment of a new prototype System designed to
closely resemble a commercial configuration with pumping units
aligned across the entire length of the horizontal section of the
test wellbore.
Raise is currently commissioning its start-up
procedures for the new System. Following start-up, Raise and
its oil & gas industry partner will operate a test period for
this System which is anticipated to last at least 90 days and will
provide no further commentary until the conclusion of the
testing.
This is the second of a graduated three
deployment test program for the System.
Eric Laing, CEO
of the Company, commenting on this deployment said "at this point
we have now proven the retrieval and deployment of multiple pump
sections is possible in close tolerance wellbores. The old
prototype came out of the ground and the new System was deployed to
the end of the existing wellbore without any issues. I am
very proud of our Company for landing the world's first multi pump
completion in a horizontal well bore. We will now move into
commissioning and then testing the System as we continue to learn
and progress our technology."
About Raise Production Inc.
The Company is an innovative oilfield service
company that focuses its efforts on the production service sector,
utilizing its patented products to enhance and increase ultimate
production in both conventional and unconventional horizontal oil
and gas wells.
This news release contains certain forward-looking
statements. All statements, other than statements of
historical fact, are forward looking statements that involve
various risks and uncertainties. There can be no assurance
that such statements will prove to be accurate and actual results
and future events could differ materially from these anticipated in
such statements.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
SOURCE Raise Production Inc.