January 8, 2014
Packers Plus Energy Services Inc. has increased production rates and decreased costs for TransAtlantic Petroleum Ltd. (NYSE MKT:TAT; TSX:TNP) in
. Over the last eight months, the two companies have installed the Packers Plus StackFRAC
open hole multi-stage completion system and have seen initial production rates increase as much as 300%.
By using the Packers Plus StackFRAC system in the Teslimkoy and Middle Sinan Dolomite (MSD) formations in southeastern
, TransAtlantic has also seen a 25% average decrease in completion costs.
"Applying North American stimulation and well intervention practices in the international arena is difficult and can become cost prohibitive very quickly," said
, VP of Engineering at TransAtlantic. "The experience and service quality that Packers Plus brings to the international market has helped us exceed expectations and provides the confidence we need to move forward with the development of key assets in
Packers Plus has also done work for TransAtlantic's wholly owned subsidiary, Thrace Basin Natural Gas (
) Corporation in northwest
and has seen impressive numbers. These wells incorporated the Packers Plus SF Cementor™ stage collar and StackFRAC system technologies to their assets resulting in a 200% increase in initial production rates and a 50% average decrease in completion costs.
TransAtlantic is the first operator to use open hole StackFRAC systems in
"Packers Plus' ability to provide custom, fit-for-purpose technology has allowed TransAtlantic to reduce their operational expenditures. This increase in capital can then be applied to other assets," said
, International Business Development for Packers Plus. "Both companies have benefitted from teamwork and we look forward to working together in the future to introduce more innovative technologies to the international market."
This latest operational success with TransAtlantic in
builds on prior international experience and outlines the capability of Packers Plus technology to add value in a wide variety of formations around the world.
About Packers Plus and StackFRAC