STEP Energy Services Ltd. (“STEP”) and Universal Chemical Solutions, Inc. (“UCS”) are pleased to announce they have entered into an agreement that will facilitate the delivery of post-production stimulation services to energy producers working in the Eagle Ford Shale, Permian Basin, Niobrara-DJ Basin and Bakken Formation.
Single Shot IOR™ is a patent-pending, post-production stimulation technique that uses liquid petroleum gasses (LPG) and proprietary chemistry to mobilize hydrocarbons in shale or tight sand, oil bearing reservoirs. The Single Shot IOR system is designed to combat post-production challenges and access unproduced pay that has been left behind by completion efforts.
“The opportunity to utilize STEP’s LPG fracturing equipment and intellectual property with UCS’ Single Shot IOR technology is expected to represent a marked advancement in improved oil recovery methods,” comments Mike Burvill, Vice-President, Business Development and Innovation of STEP. “STEP expects that producers will be able to increase recovery rates of their declining assets with a single pumping treatment into the hydrocarbon bearing reservoir. This could represent a substantial cost saving when compared to other high pressure, compression oil recovery operations.”
In collaboration with interested energy producers, well candidates will be identified by STEP and UCS using reservoir modelling expertise. Chief Executive Officer of UCS, Tadd Wallace adds, “UCS brings the cutting edge Single Shot IOR technology while STEP brings experience and the unique specialized equipment necessary to deliver this technology. We believe this relationship will provide significant value to the industry, especially in the current challenging environment for shale operators. We are excited to be a part of this effort to unlock resources previously thought to be unattainable.”