Lexington Energy Services Inc. (OTCBB: LXES)
Innovative rigs set to arrive along with colder weather
VANCOUVER, Jan. 9 /PRNewswire-FirstCall/ – Lexcore Services Inc. is pleased to announce the first of its inventive new drilling/coring rigs have left their Calgary manufacturing facility to begin work in the Athabasca oil sands.
“Warm weather had prevented our rigs from getting up there sooner,” said Lexcore President Brent Nimeck, “but we are finally going to get the chance to demonstrate the speed with which our new rigs can drill.”
Oil sands companies evaluate reservoirs of oil sands by drilling evaluation holes and removing core samples. This is particularly important for Alberta’s expanding oil sands, where traditional seismic exploration is not possible.
Coring involves cutting a cylindrical sample out of the earth during drilling to allow geological analysis of what lies below. That geological analysis can determine the well or oil sands location’s physical characteristics like porosity, permeability, fluid content, geological age, and its probable productivity.
For coring applications, Lexcore’s rigs have been designed to use wireline retrieval, making their system faster and more efficient than the conventional coring method that requires pulling the entire drill pipe back to the surface each time to retrieve only 3m of core at a time.
Each of Lexcore’s drilling rigs has a 10m drill pipe that can retrieve a 3-inch wide core up to 700 m deep and is accompanied by a core van for the initial evaluation and storage of core samples.
Conventional drilling rigs often require two or three more trucks than Lexcore’s four-part drilling system. And since conventional drilling rigs are typically much larger, they require larger roads to be built to allow them access into remote areas.
Lexcore’s four-truck drilling/wireline coring system will be attractive to oil companies because their units are smaller, consume less gas, require less manpower, and can travel on smaller roads than conventional six- or seven-truck drilling/coring units.
Another distinct benefit of Lexcore’s drilling system is that, with their smaller units, there is a smaller environmental footprint. Oil and gas companies are required to pay stumpage fees for the trees cut down in establishing their oil exploration and production areas. With Lexcore’s rigs, the work area needed is about half the size of conventional rigs, saving money for the oil companies that utilize Lexcore’s equipment.
“From conception to realization, these new-style oil sands rigs took less than a year,” said Lexington Energy President Larry Kristof, “so we’re excited to see all of the hard work so many have put in pay off so soon.”
Lexcore Services Inc. is a wholly owned subsidiary of Lexington Energy Services Inc. and its first two drilling/coring systems are currently under contract for 69 wells with Laricinia Energy in the Athabasca oil sands.
CONTACT: Mark Procknow, Corporate Communications, Lexington Energy Services Inc., (403) 279-4585
Source: Lexington Energy Services Inc.
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