- Indago Energy (INK) has increased production at its East Texas Basin by 126 per cent over the first three months
- A Texas producer treated three of Indago's wells with HCD Multi-Flow which controls was and resins at a lower dosage rate while also reducing basic sediment and water
- Based on the results the producer has invited Indago to consider a joint venture to acquire other similarly effected wells and treat them with HCD Multi-Flow
- Indago has ended the day up 2.67 per cent with shares trading for 7.7 cents apiece
Indago Energy has increased production at its East Texas Basin by 126 per cent over the first three months.
This statement comes after a Texas producer treated three of Indago's low productivity wells.
The three wells, ACF#1, GAS#1 and JSC#2, produce from the Lower Cretaceous Rodessa Formation and carry high paraffin (wax) levels.
The wells reported increases of 80, 231 and 68 per cent respectively.
The Texas producer performed a tri-phase squeeze with HCD Multi-Flow on each well to increase oil production and then maintain higher production with a continual low level HCD Multi-Flow feed.
The producer specifically noted that when replacing a down-hole pump in one of the wells the pump remained clear of paraffin and asphaltene.
As a result of a continuous drip feed of HCD Multi-Flow the production increased post the squeeze treatment.
HCD Multi-Flow is a chemical molecular disaggregator that effectively controls wax, asphaltenes and resins as a lower dosage rate while also reducing BS&W (basic sediment and water) by rapid separation of the water and oil phases.
This breaks emulsions and eliminates foams.
Multi-Flow is a liquid and is injected into pipelines, wells or oil formations through standard injection architecture from the oil formation to the refinery.
The reliquification of the paraffin was, asphatenic and resin deposits is accomplished by breaking down the chemical bonds which exist between individual carbon chains and substituting smaller carbon chains in their place.
Based on the success of the three well treatment, the Texas producer has ordered 10 additional drums of HCD multi-flow to use on additional wells.
It has also invited Indago to consider a joint venture to acquire other similarly effected wells and then treat them with HCD Multi-Flow.
Indago has ended the day up 2.67 per cent with shares trading for 7.7 cents apiece in a $21.15 million market cap.