Avalon Oil & Gas Inc. is an independent domestic oil and natural gas producer. The company has acquired a portfolio of leases in Texas, Oklahoma, Louisiana and Arkansas. Avalon’s strategy is to use efficient reservoir maintenance and innovative technology to generate stable cash flows for the company.
Avalon’s technology subsidiary acquires and develops oil production enhancing technologies from early stage licensing partners such as UTEK Inc. UTEK is a technology-transfer company that enables firms to rapidly acquire innovative technologies from universities and research laboratories worldwide.
To date, Avalon has acquired the license for two technologies. The first technology, licensed from the University of Wyoming, provides Avalon with exclusive rights to paraffin wax removal technology for improving oil production efficiency. The technology utilizes ultrasonic waves to mitigate deposits of paraffin wax from crude oil. This technology helps prevent precipitate from forming on production tubing walls and surface flow equipment, as well as helps operators maintain optimal oil viscosity thereby increasing flow rates and production efficiency.
The second technology license acquired by Avalon is from the Lawrence Livermore National Laboratory. This technology involves ‘smart oil well borehole casings’ for oil recovery. The technology uses a densely spaced network of a range of casing sensor types to monitor critical parameters in a subsurface oil reservoir. Data from the sensors is combined with data fusion technology to yield real-time knowledge of the reservoir and processes such as primary and secondary oil recovery.
Applications include real-time mapping and monitoring of subsurface fluid composition and distribution in deep oil reservoirs. Bypassed oil and fluid-flow barriers can be identified and fluid saturation changes can be mapped. All of this will allow the company to maximize hydrocarbon recovery without interfering with normal well operations.
Avalon hopes to make additions to their portfolio of oil enhancing technologies in the near future.
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