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FOR IMMEDIATE RELEASE

Record-Breaking CO2 Well Stimulation Yields Outstanding Results

Middle Montney well achieves top-tier 1,768 Boe/d production test results with largest CO2 stimulation.

CALGARY, AB February 4, 2016 – Ferus Inc. (Ferus), the leading provider of off-road cryogenic fluids for the energy industry, is proud to be a major service provider for Blackbird Energy Inc. (TSX VENTURE:BBI), the emerging Canadian Exploration and Production company that recently completed and achieved exceptional top-tier production test results on a well located in the Middle Montney formation. The well completion method, which contributed to the outstanding results, was an energized CO2 foam frac using record-breaking volumes of CO2.

Ferus was the sole provider of CO2 and the associated logistics for the complex job. The integrated effort included Ferus demand planning staff and field supervisors managing on-site operations to safely pump the product and effectively implement the completion.

Production
The CO2-based completion produced 1,768 Boe/d, exceeding Blackbird’s gas rate and total Boe/d type curve by 109% and 80% respectively. The Middle Montney well at Elmworth 2-20-70-7W6 was completed using sliding sleeve frac technology and an energized CO2 foam fracture with 70 individual stages. A total of 10,531 m3 (88,317 Bbls) of load fluid and 9,226 m3 of CO2 distributed an average of 31.75 tonnes of proppant per stage over the 70 stages.

“Only through working with Ferus were we able to implement this type of completion for our 2-20 well,” stated CEO of Blackbird Energy Inc., Garth Braun in his Executive Letter, January 2016. “One reason we chose to use CO2 was its superior viscosity and therefore its ability to place sand more effectively. In addition, CO2 has also been proven to carry proppant deeper into a reservoir, which leads potentially to lower decline rates, higher recovery rates and better productivity overall. Furthermore, the switch to CO2 allowed us to demonstrate deliverability of the Middle Montney at an earlier stage than a slickwater frac would allow under a testing scenario.”

Based upon long-term forecasting of reserves recovery between slickwater and CO2 foams (SPE 168632), Ferus estimates the incremental reserves of the well are approximately 25 to 30 per cent higher than an equivalent slickwater well.

Water Savings 
Fracturing with CO2 foam fluid also provides environmental benefits by significantly reducing the water volume needed to complete the fracturing treatment.

“We believe the estimated equivalent of slickwater usage, had the well been completed that way instead of with CO2, would have been 30,000 m3,” said Murray Reynolds, Director of Technical Services at Ferus. “By fracturing the well with CO2, not only did Blackbird achieve significantly higher production, it also reduced water usage by approximately two thirds, which represents responsible resource stewardship. Furthermore, the use of CO2 meant fewer pumpers required onsite and reduced land footprint due to less water storage needs.”

Additional Benefits of CO2 Well Stimulations:

  • Reduced Truck Traffic – Incremental total truck traffic reduction, at an estimated 21,500 m3 per truck, equates to 322 less trucks on the lease and on the highway.
  • Reduced Greenhouse Gas (GHG) Emissions
    • Less truck traffic reduces GHG emissions and community impacts.
    • Ferus sources its Canadian CO2 from industrial waste stacks which would otherwise be emitted, and turns pollution into a commercial product.
    • Wells stimulated with energized fluids also require less horsepower to perform the hydraulic fracturing treatment; another source of decreased GHG emissions.

“Ferus is proud to be a partner on the well completions with an innovative company like Blackbird Energy,” said Tyler Dahlseide, VP Energized Fluids at Ferus. “The production test results of the 2-20 well demonstrate to the energy sector that CO2 is an effective fracture fluid alternative that achieves both economic and environmental objectives.”

###

About Ferus

Ferus Inc. and Ferus LP, privately-held by The Energy & Minerals Group and part of the Ferus Group of Companies, deliver integrated solutions to the energy industry for well stimulation, well completions and enhanced oil recovery applications. Ferus provides a dedicated supply of energized fluids (liquid CO2 and N2), as well as the related logistical and operational services to deliver those products to our customers in the energy industry, no matter how complex or remote the terrain. Ferus Inc. and LP currently own and operate eight CO2 and N2 plants, which are strategically located throughout the Western Canada Sedimentary Basin, north-eastern U.S. and U.S. Rockies, as well as a fleet of over 300 transportation and storage assets that are specifically designed for oilfield operations.

Sister companies Ferus Natural Gas Fuels Inc. and LP provide end-to-end liquefied natural gas (LNG) and compressed natural gas (CNG) fueling services including liquefaction, compression, transportation, storage and delivery to our customers in all end-use high horsepower industries. For more information, visit www.ferus.com.

About The Energy & Minerals Group

EMG is the management company for a series of specialized private equity funds. The Firm was founded by John Raymond (majority owner and CEO) and John Calvert in 2006. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $16.5 billion of regulatory assets under management (RAUM) and approximately $9.4 billion in commitments have been allocated across the energy sector since inception. For additional information, please visit www.emgtx.com

For more information, contact:

Dario Alvarez
1.403.690.0545
darioalvarez@ferus.com

 

 


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