Quantcast

Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Wavefront's Newest Client?

Today, Wavefront Energy and Environmental Services Inc.'s (WEE.V) announced that Powerwave will be implemented in Texas county, Oklahoma, on a CO2 flood. Until now, all their permanent installations have been on water flood projects.

Wavefront Energy and Environmental Services Inc.'s Powerwave will be implemented in Texas county, Oklahoma, by a Denver-based, New York Stock Exchange-traded, independent oil and gas producer having operations in the Permian basin, Rocky Mountain, mid-continent, Gulf Coast and Michigan regions of the United States.

"This is a very significant milestone for Wavefront as we expand from optimizing secondary oil recovery using waterflooding to tertiary, or enhanced oil recovery (EOR) strategies using CO2," stated Wavefront president and chief executive officer, Brett Davidson.

Mr. Davidson further stated: "In the Texas county project, Powerwave will provide the means of broader distribution of the CO2 allowing for more effective oil returns. Currently there are 66 CO2 floods in the United States with 40 of those located in the Permian basin. There are four CO2 floods in Canada with the most notable being the Weyburn project in southeastern Saskatchewan that has been ongoing since 2000."

I think their newest client is Whiting Petroleum Corporation (WLL). Here is why:

Whiting Petroleum Corporation (WLL), a Delaware corporation, is an independent oil and gas company that acquires, exploits, develops and explores for crude oil, natural gas and natural gas liquids primarily in the Permian Basin, Rocky Mountain, Mid-Continent, Gulf Coast and Michigan regions of the United States. The Company trades publicly under the symbol WLL on the New York Stock Exchange.