ExxonMobil Awards Multi-Zone Stimulation Technology License to Weatherford
Well perforating and fracturing combined into one efficient operation
Award-winning technology in commercial use since 2005
Weatherford experienced in advanced stimulation technologies
ExxonMobil Upstream Research Company (URC) announced today the licensing
of its award-winning Multi-Zone
Stimulation Technology (MZSTSM) well treatment process to
a subsidiary of Weatherford International Ltd. The MZST process can be
used to rapidly and reliably stimulate multiple zones in a single
operation, yielding improved well economics.
The MZST process can be particularly beneficial for hydraulic
fracturing operations in tight gas, shale gas and coal bed methane
wells that target multiple reservoir zones, thick reservoir sections or
long reservoir intervals where multiple stimulation treatments are
required.
'The MZST process is a proven technology for rapidly completing wells in
tight reservoirs such as shale gas,? said URC President Sara Ortwein.
'As shale gas takes on growing significance, this technology will play a
key role in improving the economics of developing this unconventional
resource.?
The MZST process will enable Weatherford to optimize its stimulation
operations by combining the deployment of perforating and hydraulic
fracturing equipment simultaneously in the wellbore to enable
'single-trip' multi-zone stimulations. The technology dramatically
increases the number of zones that can be fractured per day compared to
traditional fracturing and stimulation operations.
'We are always looking for proven technology to reduce completion costs
without sacrificing safety or well integrity,? said Gary Flock,
Weatherford vice president of pressure pumping. 'The MZST process is an
excellent fit with our existing portfolio of completion and well
stimulation technologies and services and will help us add value to our
customers in the unconventional gas business.?
The MZST process was developed by ExxonMobil Upstream Research Company,
an affiliate of Exxon Mobil Corporation. The technology was recognized
with Platts Global Energy Award for Most Innovative Commercial
Technology in 2005 and has been licensed to numerous service companies.
About ExxonMobil Upstream Research Company
ExxonMobil Upstream Research Company is the Upstream research affiliate
of Exxon Mobil Corporation (NYSE:XOM), a leading global oil, natural
gas, and petrochemicals company with operations in nearly 200 countries
and territories worldwide. ExxonMobil Upstream Research Company is
charged with developing an industry-leading array of proprietary
technologies that support the Corporation's continued leadership
position in exploration, development, production and gas
commercialization.
About Weatherford
Weatherford is a Swiss-based, multi-national oilfield service company.
It is one of the largest global providers of innovative mechanical
solutions, technology and services for the drilling and production
sectors of the oil and gas industry. Weatherford operates in over 100
countries and employs over 60,000 people worldwide.
MZST is a service mark of Exxon Mobil Corporation.
CAUTIONARY STATEMENT: Statements in this release regarding future events
or conditions are forward-looking statements. Actual future results,
including the performance of new technology, could differ materially
depending on geologic conditions, technical or operating factors, and
other factors discussed under the heading 'Factors Affecting Future
Results' on the 'Investors' section of our website at www.exxonmobil.com.
ExxonMobil
Patrick McGinn, 713-656-4376
