Earlier in Q4 Welltec opened its first base in Argentina to service customers exploring and developing unconventional shales. On December 20th, Welltec successfully performed its first job there, conveying tools in a long horizontal section and allowing the operator to initiate production from the well. Two additional jobs are planned to be carried out early in 2016.
The new base and office is located in Buenos Aires and will primarily serve clients operating in the Vaca Muerta Formation in the Neuquén Basin.
Located in west-central Argentina and covering a vast area of 137,000 km2, the Neuquén basin has been producing for more than 100 years. However, in recent years operators have begun increasing investments in developing the Vaca Muerta oil and gas field, exploring for unconventional reserves.
The basin is estimated to hold significant potential, a shale bounty that potentially can transform the outlook for the Western Hemisphere, resulting in support of the provincial governments through the generation of infrastructure, jobs and revenues.
“This is a very interesting and developing area, where operators will be present for the next decades,” says Ricardo Quintero, VP Business Development. “Of course, Welltec will be there to assist the operators performing well interventions on electric line.”
With a good pipeline of jobs already lined up, Ricardo Quintero expects activity to increase significantly over the coming months. “We are off to a great start here in Argentina and the jobs keep coming in. We really look forward to serving our clients and doing what we do best; helping reduce cost while increasing their production and recovery.”
The development of a unique mechanical cutting tool makes it possible to eliminate explosives from many operations which require tubulars to be recovered during workovers, drilling operations or recompletions.
Welltec® has created the Well Cutter® which makes it possible to perform several cuts of drill pipe, casing and liner, without explosives, in the same trip in the well and make the cut regardless of whether the pipe is in tension or compression. This achievement leads to instant time and cost savings while increasing safety for both people and assets.
The world’s first operation demonstrating two cuts in the same run recently took place offshore. Two cuts were required in order to reduce the risk of pulling the tubing in one piece through a restriction; two sections creating smaller lengths of continuous pipe and reducing the risk.
The operational time was reduced significantly and the unique ability to cut under tension or compression provided a key benefit as it overcomes uncertainty sometimes posed by the environment.
In another example, the Well Cutter again demonstrated its ability to overcome uncertainty, reduce risk and optimize operational efficiency by cutting through both scale and tubing in the same run. A large build-up of BaSO4 restricted the ID of the 7″ tubing to just 5.45″. In this example the operator saved approximately 75% of the costs by performing the entire operation on e-line compared to a rig-based operation.
The Well Cutter is another example of our ability to help our clients reduce costs and deployment times while enabling increased cash flow without compromise to the safety of people and assets.
Welltec® is the pioneer and the world’s leading provider of downhole robotic solutions for deployment, milling, clean-out and mechanical solutions. For more examples of innovative ways to solve your workover challenges through lower lifting costs, reduced capex and maintained production – http://www.welltec.com/reducecost