The Woodlands, TX: Morphpackers, a leading provider of revolutionary and highly innovative expandable steel packers for the oil and gas industry, announced the signing of a distributor agreement with Beta Energy Services, an Argentina-based oil and gas products and services company.
Morphpackers has been interested in the Argentina market for some time, for both recompletion opportunities for oil and gas wells and for water shut-off applications. Alfredo Sanchez, Morphpackers CEO, explains, “The shale play in South America is very large, but many of the wells are getting older, declining in production, and will benefit from restimulation. Morphpackers technology brings new life to old wells.”
Beta Energy Services, led by VP Operations and Co-Founder Martin Favre, is a collection of different partners and talents with decades of industry experience. Favre and Sanchez have been industry associates for many years and are excited to join forces with this new business alliance to make the refracturing of old wells in Argentina a viable option for production companies. Favre sees conventional value in Morphpackers’ technology and is eager to introduce this new approach to his clients.
“The cost of new wells in Argentina continues to be very high. Depending on the operator, we’re often faced with prices up to twice that of drilling new wells in the United States. Companies are looking for economical ways to meet their production demands, and in terms of both time and money, refracturing yields a better return on investment than drilling a new well. Morphpackers products are best-in-class when it comes to refracturing,” says Favre.
Oil and gas wells in Argentina have a similar completion program to U.S. wells. In many of the major basins in the United States, Morphpackers has run their equipment in vertical and horizontal wells for restimulation and remediation purposes. We have also identified that our technologies can offer a significant advantage in vertical wells that need to be converted to horizontal wells. With the right technology, companies that are refracturing wells have seen production of existing wells restored to approximately 70% or more of original production for approximately 40% of the original cost. Equally as important is the ability to recomplete wells with the largest possible diameter. Morphpackers tools and technologies offer one of the least sacrificial I.D. (or largest residual I.D.) of the refrac options on the market.
Beta Energy Services will offer two product lines including completion tools and polymer tools, along with a full suite of services. This service component is one of the advantages that made the company most attractive to Morphpackers. “I have always admired Martin’s entrepreneurship, technical competence, and honesty. His team at Beta is comprised of skilled professionals who are capable of flawlessly executing our technology. We’re excited to expand our footprint into South America,” says Sanchez.
Morphpackers will provide a comprehensive training to Beta’s personnel that includes sales and marketing, as well as applications engineering tactics to determine whether a candidate well is a good option for their technology. After that, the focus will shift to identifying specific areas and customers who need these proven technologies and services.
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Morphpackers is a leading provider of revolutionary and highly innovative expandable steel packers for the global oil and gas sector. Morphpackers specializes in refrac packers and production packers that fill the current gap between value and performance. Morphpackers expandable steel packer solutions offer the lowest price to performance ratio for refrac solutions by optimizing production, enhancing life of field, and reducing well construction costs. www.morphpackers.com