ExxonMobil Awards Multi-Zone Stimulation Technology (MZSTSM) License to Canada's Canyon Technical Services Ltd.
-- Perforating and fracturing combined into one efficient operation
-- Award-winning technology in commercial use since 2005
-- Canyon Technical Services experienced in advanced stimulation
technologies
IRVING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation announced today the licensing of its award-winning Multi-Zone Stimulation Technology (MZSTSM) well treatment process to Canyon Technical Services Ltd. of Calgary, Alberta, Canada.
The MZST process can be used to rapidly and reliably stimulate multiple reservoir zones in a single operation, yielding improved well economics. The MZST process was developed by ExxonMobil Upstream Research Company in Houston, Texas and was recognized with Platts Global Energy Award for Most Innovative Commercial Technology in 2005.
The MZST process can be particularly beneficial for fracturing operations in tight gas, shale gas and coal bed methane wells that target multiple reservoir zones, thick reservoir sections, or long reservoir intervals where multiple stimulation treatments are required.
The MZST process will enable Canyon Technical Services to optimize its stimulation operations by combining the deployment of perforating and fracturing equipment simultaneously in the wellbore to enable single-trip, multi-zone stimulations. This proprietary technology dramatically increases the number of zones that can be fractured per day compared to conventional fracturing and stimulation operations.
Canyon Technical Services provides leading edge well stimulation and cementing technology to customers in Canada.
"ExxonMobil's MZST process continues to be the preferred technology for rapidly moving from drilled well to completed production well in unconventional plays," said ExxonMobil Upstream Research Company President Sara Ortwein.
Joe Peskunowicz, Canyon's Executive Vice President, Corporate, said, "Our customers have been searching for a cost-effective solution to stimulating wells that have multiple intervals and now we have the ideal technology in ExxonMobil's MZST process to meet those requirements."
*MZST is a service mark of Exxon Mobil Corporation.
CAUTIONARY STATEMENT: Statements in this release regarding future events or conditions are forward-looking statements. Actual future results, including the performance of new technology, could differ materially depending on geologic conditions, technical or operating factors, and other factors discussed under the heading "Factors Affecting Future Results" on the "Investors" section of our website at www.exxonmobil.com.
About ExxonMobil Upstream Research Company
ExxonMobil Upstream Research Company is the Upstream research affiliate of Exxon Mobil Corporation (NYSE:XOM), a leading global oil, natural gas, and petrochemicals company with operations in nearly 200 countries and territories worldwide. ExxonMobil Upstream Research Company is charged with developing an industry-leading array of proprietary technologies that support the Corporation's continued leadership position in exploration, development, production and gas commercialization.
About Canyon Technical Services Ltd.
Canyon Services Group Inc. is a publicly traded (TSX:FRC) Canadian oilfield service company that provides specialized fracturing and well stimulation services. Canyon's mission is to provide leading edge well stimulation technology to its customers. Canyon provides its services focusing on both conventional and unconventional oil and gas reservoirs.
Source: Exxon Mobil Corporation
Released October 14, 2010