Rand Oil Ltd - Regina
About Rand Oil Ltd
RAND is a working interest partner in a number of southeast Saskatchewan oil projects.
As of January 2019, Saskatchewan had 25,883+ suspended wells while Alberta had 80,000+. With current commodity prices, most of these wells are uneconomic and will need to be abandoned. Companies are having trouble increasing production and do not have the capital to take care of their environmental liabilities. RAND would like to innovate a new technology which would reduce the cost of abandonments while also making them more environmentally friendly.
The current abandonment process uses service rigs and cement. Service rig use is expensive and is 60-80% of the cost of the entire abandonment. RAND would like to explore options which reduce the time the service rig is utilized which in turn reduces the costs significantly. Principals of RAND are the foremost experts in materials testing and have innovative ways to use other materials for the abandonment process. With cement, companies are sealing 5-15 meters of the well bore. With the use of different material, operators will be able to seal up to 100 meters of the well bore. This results in roughly 700% more coverage. Increased coverage allows for the ultimate protection of water sources and protects against gas migration leaks. All new technologies will meet and exceed the current regulations for abandonment processes.
Contact Rand Oil Ltd
| Address : | 1402 Rose St #206, Regina, SK S4R 1Z9, Canada |
| Phone : | 📞 +9 |
| Postal code : | 4 |
| Website : | http://randoil.ca/ |
| Categories : | |
| City : | R |
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