Cordax & ResMetrics Announce Joint Services Offering
Completion & Well Performance Optimization Process -- Alliance Provides Low-Cost Improvement Method for Unconventional Operators
HOUSTON, Oct. 30, 2020 /PRNewswire-PRWeb/ -- Cordax Evaluation Technologies Inc., an international provider of cost-effective formation logging data with service locations in the U.S., Canada, Abu Dhabi, Argentina and Mexico, and ResMetrics, a Houston based provider of quantifiable tracer measurements, today announced a new, combined, cost effective, low risk, and continuous improvement process for unconventional wells. The offering is designed to provide critical insights into well productivity performance and formation properties. The combination of services provides improvement process unique to the industry in its focus on completion improvement as well as cost reduction.
"ResMetrics has pioneered the development of unique tracer technology that provides an evaluation of key reservoir and completion variables that impact well performance. Through the comparison of individual stage tracer recoveries, against adjacent formation rock qualities, ResMetrics can provide invaluable information that enables Operators to optimize their completion, stimulation and well placement strategies," said Maarten Propper, President & CEO of Cordax Evaluation Technologies Inc. "This joint service offering aligns perfectly with our strategy of providing the lowest risk, most cost effective and efficient means of collecting high quality formation data, while remaining focused on assisting clients in optimizing the producibility of their wells."
"By combining Cordax's unique logging methodology, which enables measurement of critical rock properties in an operationally friendly way, we can facilitate a more complete assessment of completion techniques with a deeper focus on the reservoir," said Sharad Behal, CEO of ResMetrics. "This combination will expand our ability to help clients maximize the performance of their wells in this low commodity price environment and resolve their completion challenges."
Formed in 2016, Cordax has grown into the global leader in acquisition of well logging data using its proprietary Logging While Tripping™(LWT™) conveyance and measurement technologies.
"The industry has already made enormous improvements in drilling and completion efficiencies. The next wave of industry trends will center around the producibility of these efficiently drilled wells by assisting clients in developing a comprehensive analysis of well bore lithology and tailored completion and fracturing strategies, through the integration of multiple data streams, which includes tracer data as well as critical formation evaluation data," said Propper. "Together we are pulling back the curtain and allowing operators to see what their wells are hiding."
The workflow process allows for easy deployment and little pre-job planning by the operator.
Measure – Near Wellbore Petrophysical and Geo-Mechanical properties efficiently and without risk
Evaluate – Assess and grade rock properties utilizing Cordax's ZoneGrader™ software tools
Plan – Customize completions and stimulation programs based on Near Wellbore properties
Observe – Monitor Frac performance and generate Post-Frac Diagnostics
Quantify – Evaluate flowback and production performance of well and individual stage contribution
About CORDAX
Cordax's unique and proprietary Logging While Tripping (LWT) technology provides clients with an unparalleled cost-effective means to capture quality formation logging data from vertical, highly deviated, and horizontal well bores. Complementing the LWT data acquisition system, the reservoir evaluation answer products ZoneGrader and GOLE™ (Geologically Optimized Limited Entry™) have been developed to allow operators to improve their operations using the acquired logging data.
About RESMETRICS
A premier provider of oilfield tracer services, ResMetrics' quality control systems and state-of-the-art analytical laboratory make current tracer technologies more accurate and robust. With state-of-the-art Houston, TX based laboratory and well-formed processes and procedures, ResMetrics ensures that all raw data delivered to our customers is free from errors associated with poor tracer injection measurements and inadequate analytical instrumentation. ResMetrics has pioneered a number of enhancements to improve the accuracy of tracer data.
- Tracer screening and calibration
- Tracer injection Automatic Flow-Metering
- iPhone/Android Sampling App
- High-Performance Analytical Lab
- PetroXY web application to interpret tracer data
- Cloud Data Delivery
SOURCE Cordax Evaluation Technologies, Inc.
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