Laramie, WY (PRWEB) April 20, 2005
WellDog, Inc., a Wyoming-based energy technology company today announced two key advances: a new market offering, Critical Gas ContentÂ, which increases the profitability of finding and producing coal bed natural gas; and closure of a new round of funding by Pennsylvania-based EnerTech Capital.
WellDogÂs Critical Gas Content service is changing the way coalbed natural gas reservoirs are developed. WellDogÂs direct downhole analysis quantifies gas content, gas saturation and critical gas desorption pressure within hours. The service tells operators how much gas is available in the formation and how much water will be lifted before the well starts producing. With this service, coalbed operators can finally identify the most profitable potential wells quickly and confidently.
"Critical Gas Content revolutionizes coalbed natural gas exploration and development," said Wayne Greenberg, CEO of WellDog. "Developers can now receive immediate, accurate quantification of reservoir properties at a lower cost per well than coring. It means they can make confident decisions based on real measurements and not rely on inferred and lab-simulated results."
"WellDog is a unique managed service provider in the unconventional natural gas market," said Tucker Twitmyer, EnerTech Capital. "The value proposition to coal bed natural gas producers offers a dramatic increase in per well and per basin profitability with fewer non-producing wells and better performance of producing wells. We are excited to join them as they commercialize their new service." As part of the investment round, Twitmyer has joined WellDogÂs Board of Directors.
About WellDog, Inc.
Founded in 1999, WellDog, Inc. develops chemical sensing technologies for natural gas exploration and production. WellDogÂ® services give coalbed natural gas developers the information they need to produce more gas, more quickly, with less environmental impact. These services support coalbed natural gas, an industry that has been identified as the fastest growing sector of natural gas production in the U.S. For more information, visit http://www.welldog.com.
About Enertech Capital Partners
EnerTech is an early-stage venture capital firm that invests principally in companies and technologies that can have a dramatic, profitable impact on the energy and power industries and their end-consumers. For more information, visit http://www.enertechcapital.com/.
WellDog is a registered trademark of WellDog, Inc.