WellDog awarded Permian basin contracts worth $8 million
New contracts involve reducing production costs and increasing production volumes for top operators in the basin
(Houston, TX, USA) – WellDog announced today that it has been awarded multiple contracts to provide its technical products and services to customers in the Permian Basin of Texas.
“When it comes to production optimization, WellDog is the most experienced and lowest cost provider in the basin,” said James Walker, President and Chief Operating Officer of WellDog. “And our WatchDog systems are highly effective. They support a one-month payback for customers by providing a 12% increase in production without additional drilling and completing.”
WellDog previously grew its Australian subsidiary into the largest downhole technology provider to the Australian coalbed methane industry in just a few years by providing similar technical products and services. That success established WellDog as the 88th fastest growing private company in the US, according to Inc Magazine and resulted in the company’s products being installed in more than 3,000 wells. They now deliver an incremental A$500 million in natural gas to Asia each year.
In 2014, WellDog began to expand its offerings to the much larger U.S. shale market. Australia’s coalbed methane market activity is driven by about 40 working rigs, while the U.S. shale market activity is driven by more than 900 working rigs. Last year, WellDog established its presence in the Texas market by opening an office in Houston and an operational base in Odessa/Midland. Since that time, WellDog has experienced a substantial upswing in demand for WatchDog and other products in all US shale basins.
WellDog’s products and services safely and reliably deliver downhole technical data in order to increase operators’ environmental and economic sustainability.