|By PR Newswire||
|January 8, 2014 07:00 AM EST||
DUBAI, United Arab Emirates, Jan. 8, 2014 /PRNewswire/ - Packers Plus Energy Services Inc. has increased production rates and decreased costs for TransAtlantic Petroleum Ltd. (NYSE MKT:TAT) (TSX:TNP) in Turkey. Over the last eight months, the two companies have installed the Packers Plus StackFRAC® open hole multi-stage completion system and have seen initial production rates increase as much as 300%.
By using the Packers Plus StackFRAC system in the Teslimkoy and Middle Sinan Dolomite (MSD) formations in southeastern Turkey, TransAtlantic has also seen a 25% average decrease in completion costs.
"Applying North American stimulation and well intervention practices in the international arena is difficult and can become cost prohibitive very quickly," said Justin Davis, VP of Engineering at TransAtlantic. "The experience and service quality that Packers Plus brings to the international market has helped us exceed expectations and provides the confidence we need to move forward with the development of key assets in Turkey."
Packers Plus has also done work for TransAtlantic's wholly owned subsidiary, Thrace Basin Natural Gas (Turkey) Corporation in northwest Turkey and has seen impressive numbers. These wells incorporated the Packers Plus SF Cementor™ stage collar and StackFRAC system technologies to their assets resulting in a 200% increase in initial production rates and a 50% average decrease in completion costs.
TransAtlantic is the first operator to use open hole StackFRAC systems in Turkey.
"Packers Plus' ability to provide custom, fit-for-purpose technology has allowed TransAtlantic to reduce their operational expenditures. This increase in capital can then be applied to other assets," said Joel Appleton, International Business Development for Packers Plus. "Both companies have benefitted from teamwork and we look forward to working together in the future to introduce more innovative technologies to the international market."
This latest operational success with TransAtlantic in Turkey builds on prior international experience and outlines the capability of Packers Plus technology to add value in a wide variety of formations around the world.
About Packers Plus and StackFRAC
Packers Plus is the innovator of open hole multi-stage fracture stimulation systems and is an industry leader in designing and manufacturing innovative solutions for a variety of completion challenges. Packers Plus has run over 12,500 completion systems accounting for over 160,000 fracture stages since the company started operations in 2000.
Today, Packers Plus has employees in 37 offices in Canada, the United States and across the globe. With international offices servicing Africa, Asia, Europe, the Middle East, AsiaPac, and Latin America, Packers Plus has experience in key markets throughout the world.
Packers Plus® and StackFRAC® are registered trademarks of Packers Plus Energy Services Inc.
SOURCE Packers Plus
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