Partnerships, new products, and investments to lift the artificial lift system industry to great heights
Innovative products and technologies in artificial systems have been gaining a lot of traction with strategies such as partnerships, launches, and new investments. Leading market players have joined hands to offer better services and enhance market share. moreover, raising funding to further develop the technology has its benefits to reach the next level and gain more market share. The research and development activities have gained traction to improve the current systems. It would improve the efficiency and enable market players to gain an advantage over competitors. The demand for innovative artificial lift system in the oil & gas sector is on rising. According to the report by Allied Market Research, the global artificial lift system market is estimated to reach $34.56 billion by 2022. Following are some of the recent activities that would shape the industry”
The partnership between QCI & Enerserv proves to be a boon:
Joining forces to offer enhanced service is a major strategy to uplift market share. QCI, Inc. and Enerserv, Inc. have partnered to offer artificial lift penetrator and turnkey wellhead product services and solutions. Forming an alliance these two groups will offer responsive and expert installations for saving a lot of time and money for operators. Both companies have offered products and services for complementary good completion. With joined hands, QCI aims to expand its reliable artificial lift penetrator products for the inclusion of ESP spooling & banding along with capillary and tech wire installation services.
Commenting on the partnerships, Peter Lawson, President and Chief Operating Officer of QCI, outlined that both companies would develop oilfield technology and equipment of the highest quality taking safety codes and standards into consideration. He emphasized that their robust stock of materials and skilled & certified technicians have enabled them to become ‘go-to partner’. Ward Schlittler, Founder and President of Enerserv, outlined that operators would determine the efficiencies with only a truck and a technician in the field to install wellhead penetrator and adapter solutions as both companies work together. Both companies have a culture of overcoming challenges and growing. The partnership would be helpful for its customers and teams to operate efficiently with enhanced expertise.
Before joining hands, QCI launched a gas life wellhead solution, named as QCI Gas Lift Wellhead Hanger and Adapter. This product provides distinct design features along with gas lift completions. Todd McGee, QCI Sales Director, highlighted that this product has been offered with capillary line support in mind. Operators would gain flexibility while adding a capillary line to gas lift designs without incurring costs and causing delays of sourcing. The partnership would help in offering enhanced support for operators with field service.
WaveLIFT raises funding for its new technology:
Receiving funding for further development of products is one of the crucial steps for companies to grow their market share. WaveLIFT Ltd. raised funding of more than £1 million for developing its artificial lift pump technology in the oil and gas industry. The funding round was led by Archangels, Scottish business angel investment syndicate along with Scottish Enterprise and a private investor. Steve Bruce, the chief executive officer of WaveLIFT, outlined that there is an increase in the need for exploiting the remaining oil reserves of the world currently. The firm is ready to take advantage of the funding with the expansion of its innovative artificial lift products as there are increased costs of exploration and fewer profit margins with existing portfolios. Moreover, the funding will be helpful for reaching up to the next level of business. The support from Archangels, private investment, and the Scottish Investment Bank will enable the firm to grow continuously and commercialize its business. Niki McKenzie, the Investment Director at Archangels, added that the product portfolio of WaveLIFT is innovative and unique and its feedback is positive among some major players in the industry.
Tailpipe systems impacting artificial lifts on horizontal wells:
The impact of tailpipe system on optimizing artificial lift system in horizontal wells is crucial and the studies have determined the impact. There are two factors, volume of gas produced and the tendency for gas slugging, that influence the performance of artificial lifts systems on horizontal wells. If the sucker rod pump (SRP) system is used, gas slugging can lead to gas interference at the pump and system efficiency & lifespan of equipment are reduced. Furthermore, if an electrical submersible pump (ESP) is used, gas slugging can lead to the cycling of the ESP, which in turn, leads to reduced lifespan significantly. Researchers tested two tailpipe systems in different wells with the help of SRP and another system was tested with the help of ESP. The objective was lowering down the frequency and magnitude of slugging at the pump. In addition, lowering the bottom-hole pressure without the need to land pumps on the other side of kickoff point and enhancing separation of free gases were aimed. The difference between the two separators was found out and the ways to install and operate the systems efficiently were found. These studies lead to solving problems and innovative ways.
