Anglo faces headwinds in keeping restructuring on track
Anglo has been forced to accelerate its restructuring after successfully holding off a bid from BHP, the world’s biggest miner.
GRANDE PRAIRIE, AB, – An Alberta company has pioneered a new process that has major implications to making hydraulic fracking, safer, less environmentally intrusive, and more efficient.
Grande Prairie-based Surface Solutions Inc. (SSI) is the first company to develop a multi-well, web-based monitoring platform for Off-set Hydraulic Fracture projects. Off-set hydraulic fracking involves the production of two or more wells on the same site.
SSI is applying industry-leading technology that would both prevent “fracking” disasters and save oil companies from multi-million dollar lawsuits.
A “frac” can go horribly wrong when there is a “communication” communication breakdown during the process to one or more neighboring wells. A communication breakdown means the fracking well is causing a disturbance with a non-fracking well.
The majority of oil companies fracking in Alberta do not currently monitor their frac jobs. If the downhole pressure reaches a point to create “communication” with other wells. The result can be environmentally and financially disastrous, blowing off wellheads, contaminating water sources, spilling frac fluid and oil all over other well site leases.
“We were the first company to enable simultaneous monitoring of more than one wellhead,” says Mike Beck, Founder and CEO of Surface Solutions Inc. “This protects very valuable oil producing wells and water reservoirs.
“Wellhead communication during a frac can result in multimillion dollar lawsuits between oil companies, due to loss of revenue from ruining producing wells, and environmental reclamation costs,” he adds.
Surface Solutions’ new technology monitors several wells at once. The system provides downhole pressure data to insure fracking is safe for employees, landowners. and companies.
The SSI platform is an Alberta designed cost-effective solution. It will help Alberta oil companies be compliant with new monitoring regulations, soon to be implemented by the ERCB, while establishing Alberta as leading jurisdiction for prudent fracking policy and practices.
