HOUSTON, April 21, 2015 /PRNewswire/ -- Statoil, an
innovative international energy company, has demonstrated
environmental and economic leadership by awarding a major carbon
dioxide (CO2) supply and service agreement to
Denver-based Ferus LP (Ferus), the premier provider of
energized fluids (liquid CO2 and liquid nitrogen
(N2)) to the North American oil and gas industry.
The liquid CO2 will be used in a test well to
evaluate the potential production uplift and partially replace
water in a large multi-stage hydraulic fracturing operation in a
horizontal oil well. In addition to CO2 supply, Ferus,
specialists in the off-road movement of industrial gases, will
provide transportation, logistics, storage, and on-site
supervision. The service agreement also includes the deployment of
a membrane technology that separates the CO2 from the
produced gas to reduce the extent of flaring.
This CO2 stimulation test is one of several projects
under Powering Collaboration – the joint technology program between
Statoil and GE aimed at accelerating the development of sustainable
energy solutions. The use of CO2 as an energized fluid
is common in the Western Canadian Sedimentary Basin but this will
be the first major application of liquid CO2 to displace
slickwater during the hydraulic fracturing process in the
Bakken.
"Ferus is pleased to partner with a progressive and
environmentally conscious company like Statoil to introduce
CO2-based energized fracturing into the Bakken," says
Murray Reynolds, P.Eng., Director of
Technical Services at Ferus. "This single job will conserve
thousands of barrels of fresh water and is expected to enhance well
productivity," added Lionel Ribeiro,
PhD, Researcher Drilling and Well Technology with Statoil Gulf
Services.
In collaboration with the University of
Texas at Austin (Joint Industry Project on hydraulic
fracturing), Ferus and Statoil have demonstrated through numerous
technical studies on North American reservoirs the potential for
CO2 to enhance well productivity, while significantly
reducing fresh water usage.
The proposed CO2-assisted stimulation design has been
further tailored for the Bakken formation to optimize the
production uplift.
This contract represents the second major partnership between
Statoil and the Ferus Group of Companies in the Bakken. In
September, 2014, Statoil, GE and Ferus Natural Gas Fuels LP (Ferus
NGF) announced the commercial expansion of a pilot project to
capture flare gas and use it to power Statoil's oil and gas
operations in North Dakota. The
Ferus NGF-GE joint venture solution is helping Statoil and other
E&P companies greatly reduce flaring and monetize previously
wasted gas by capturing it and using it to economically fuel their
own operations.
About Statoil
Statoil is an international energy company with operations in 36
countries. Building on 40 years of experience from oil and gas
production on the Norwegian continental shelf, we are committed to
accommodating the world's energy needs in a responsible manner,
applying technology and creating innovative business solutions. We
are headquartered in Stavanger, Norway with approximately 23,000 employees
worldwide, and are listed on the New
York and Oslo stock
exchanges.
About Ferus
Ferus Inc. and Ferus LP, privately-held by the Energy &
Minerals Group and part of the Ferus Group of Companies, deliver
integrated solutions to the energy industry for well stimulation,
well completions and enhanced oil recovery applications. Ferus
provides a dedicated supply of energized fluids (liquid
CO2 and N2), as well as the related
logistical and operational services to deliver those products to
our customers in the energy industry, no matter how complex or
remote the terrain. Ferus Inc. and LP currently own and operate
eight CO2 and N2 plants, which are
strategically located throughout the Western Canada Sedimentary
Basin, north-eastern U.S. and U.S. Rockies, as well as a fleet of
over 300 transportation and storage assets that are specifically
designed for oilfield operations.
Sister companies Ferus Natural Gas Fuels Inc. and LP provide
end-to-end liquefied natural gas (LNG) and compressed natural gas
(CNG) fueling services including liquefaction, compression,
transportation, storage and delivery to our customers in all
end-use high horsepower industries. For more information, visit
www.ferus.com.
About The Energy & Minerals Group
EMG is the management company for a series of specialized
private equity funds. The Firm was founded by John Raymond (majority owner and CEO) and
John Calvert in 2006. EMG focuses on
investing across various facets of the global natural resource
industry including the upstream and midstream segments of the
energy complex. EMG has approximately $15.5
billion of regulatory assets under management (RAUM) and
approximately $8.2 billion in
commitments have been allocated across the energy sector since
inception. For additional information, please visit
www.emgtx.com.
For more information, contact:
Kirsten Henriksen
Statoil
+1 713 269 8927
KHEN@statoil.com
Blaire Lancaster
Ferus
+1 403 605 9755
blairelancaster@ferus.com
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SOURCE Statoil