Pulse Oil Corp. announced today that Schlumberger, one of the world's leading providers of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry, has been awarded the contracts to complete all three phases of the Company's petrotechnical modelling of the Bigoray Nisku D and E Pools, prior to physical implementation of the EOR schemes. Schlumberger has been awarded the contracts to complete three projects required for a successful EOR project:
The end result of this work will provide Pulse with a dynamic reservoir model, using the full-field model built from the initial development plan, integrated with the latest data acquired from surface 3-D seismic, single well logs, core data and inter-well data. Importantly, the application of all of the reservoir data, coupled with detailed production history, will allow Pulse's team to make the best decisions related to the EOR projects.
Pulse President, Drew Cadenhead, commented, "Making the right parametric decisions regarding a chosen EOR program is critical to maximizing the value of this project for our shareholders. We are excited to award Schlumberger these three phases of the critical modelling work, as their unique combination of multi-domain expertise, proprietary technologies and software gives Pulse confidence we have done all we can to ensure a successful long-term maximum recovery from these proven pools. And with the range of projected results we reported on January 9, 2018, making the right decisions now gives us confidence that we can recover significant amounts of oil from these Nisku pools."
Source: Pulse Oil Corp.
Date: May 8, 2018