ExxonMobil Awards Multi-Zone Stimulation Technology (MZSTSM) License to Canada's Calfrac Well Services Ltd.
-- Perforating and fracturing combined into one efficient operation
-- Award-winning technology in commercial use since 2005
-- Calfrac Well Services experienced in advanced stimulation technologies
IRVING, Texas--(BUSINESS WIRE)-- Exxon Mobil Corporation (NYSE:XOM) announced today the licensing of its award-winning Multi-Zone Stimulation Technology (MZSTSM) well treatment process to Calfrac Well 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 Calfrac 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. The technology dramatically increases the number of zones that can be fractured per day compared to conventional fracturing and stimulation operations.
Calfrac is a leading Calgary-based independent provider of specialty designed fracturing, coiled tubing, cementing and well servicing solutions.
"For a variety of unconventional plays ExxonMobil's MZST process continues to be a premier technology for rapidly moving from drilled well to completed production well," said ExxonMobil Upstream Research Company President Sara Ortwein. "The track record of the MZST process for cost effective and efficient operations is a testament to the value of the technology and the reason service companies choose to license the technology from ExxonMobil."
Calfrac President and Chief Executive Officer Doug Ramsay said, "We are pleased to add this proven stimulation technology to our portfolio and plan to promote the effectiveness and efficiency of using the ExxonMobil MZST process with our many customers throughout Canada and the United States."
*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 Calfrac Well Services Ltd.
Calfrac's common shares are publicly traded on the Toronto Stock Exchange under the trading symbol "CFW." Calfrac provides specialized oilfield services to exploration and production companies designed to increase the production of hydrocarbons from wells drilled throughout western Canada, the United States, Russia, Mexico and Argentina.
Source: Exxon Mobil Corporation
Released September 21, 2010