Wescorp Energy Inc. (WSCE.OB) Strategically Positioned to Flourish During Oil Services Boom
Wescorp Energy Inc. (WSCE.OB) is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operations challenges facing oil and gas operators today. Wescorp combines its intellectual capital, oil and gas industry experience, best practices methodologies and its market offerings to deliver these solutions in a timely, economic and environmentally friendly manner.
Wescorp's main focus technology is their Water Remediation and Purification Technology, wholly-owned through a subsidiary, Total Fluid Solutions Inc.. The Water Remediation and Purification Technology based offerings by Wescorp can remove hydrocarbon contamination content from water and soil and can prove an effective tool in meeting environmental, regulatory and safety issues facing the World’s Energy Industry today and in the future. Conventional technology removes hydrocarbon contamination content down to 0.5% to 3% (5,000 to 30,000) parts per million - Wescorp removes hydrocarbon contamination content down to 0.005% (50 parts per million).
There are over 800 producing oil companies in Western Canada alone, ranging from a one well producer to producers with thousands of wells. There are in excess of 17,000 batteries that are storage facilities for contaminated formation water that requires remediation prior to re-injection into the oil reservoir just in the province of Alberta. These batteries range in storage capacity from 200 to 50,000 barrels of toxic water. Wescorp's technology can have a significant economic and environmental impact on virtually all oil producing fields.
Recently, the company was rated a “Speculative Buy” with a $0.90 12-month target price by Ubika Research. In the 32-page report, Ubika Research stated, “We believe that Wescrop has embarked on a smart strategy of focusing on operational issues faced by oil and gas companies. The oil & gas industry is very diverse and there are mainly small and mid-sized producers that face tremendous challenges in meeting operational, environmental and regulatory challenges. Wescorp’s solutions solve specific and practical problems for oil and gas operators and hence have a large and willing market to which it can cater.”
Wescorp Energy Inc. (WSCE.OB) Announces Signed Master Lease Agreement for Up to 256 Water Remediation Units
Wescorp Energy announced that its wholly-owned subsidiary, Total Fluid Solutions, Inc. (TFS), has completed a master lease agreement with an oil and gas company with operations in Texas, Kansas and Wyoming to use its safe, effective and cost-effective technology for cleaning and separating oil from produced water. As terms of the agreement, Wescorp Energy will develop, deploy and operate as many as 256 water remediation units, as well as provide trained technicians qualified to operate and service the equipment.
The assembly and deployment of these units is scheduled to be completed through various phases over the next 60 months. Presently, the company’s technicians are evaluating the geographic field locations, the hydrocarbon contamination level of the produced water, and the volume of fluid being produced on a daily basis in each region. Once the assessment is complete, the assembly of the first unit will begin. Wescorp anticipates having the first commercial unit in full field operation before the end of 2008.
According to Wescorp, the lease rates for this contract will provide the company with a full return of capital expenses and every unit will provide positive cash flow in less than 12 months. There are 5 standard through-put or volume capacity designs for the water remediation units. The daily lease rate varies depending on the through-put capacity of each particular unit, with rates ranging from $900 to $2,500 per day.
Mark Norris, Chairman of Wescorp Energy, stated, “This order for up to 256 of our patented water remediation units is monumental for Wescorp. The anticipated reoccurring revenue from these units is expected to allow the company to grow by quantum leaps. This technology has been designed and constructed to operate in oil and gas fields for the life of the producing wells - often as long as 15 or 20 years. We believe that this large initial order, primarily based on results from our 2,000 barrel-per-day commercial test unit, will lead to strong product acceptance by the industry. By reducing the amount of hydrocarbon in the produced water, this technology reduces environmental liabilities, the frequency of service and repairs on disposal and injection wells, and recovers additional hydrocarbons. Environmentally conscious companies are winning by reducing operation costs and increasing operating margins.”
“Most operators in the oil and gas industry are increasing their investments in new technologies to help with the water crisis they are currently facing. Wescorp has the technology to provide solutions that provide positive environmental impact as well as strong economic advantages. This is a great day for Wescorp - our dedication and persistence to provide technology-based operating solutions to the conventional and unconventional oil and gas producers has paid off. Wescorp is becoming a leader in water remediation and water management for oil and gas operators. When the industry uses the Total Fluid Solution to remediate water, the environment reaps rewards and the oil company saves money,” Doug Biles, President and CEO of Wescorp, commented.
Wescorp Energy, Inc. (WSCE.OB) - Solutions for Unconventional Oil & Gas
Wescorp Energy specializes in the optimization of operations and maintenance for companies in various segments of the oil & gas industry. While Wescorp more than adequately tends the common fuel harvester’s needs, a portion of its business is dedicated to providing solutions for unconventional oil & gas operations.
Coal Bed Methane is one of Wescorp’s areas of expertise. Production measurement is an ever-present obstacle, due to product loss caused by traditional monitoring techniques. By way of Wescorp’s method, there is little or no pressure drop as a result of obtaining readings. A drop in pressure can cause production losses, as well as freezing.
Companies harvesting natural gas from wells in the Barnett Shale formation (a 5,000 square mile Texas formation said to contain the largest natural gas field in the US) can also benefit from Wescorp’s assistance. Barnett Shale wells are known to produce significant quantities of water with the gas, although Wescorp’s methods are unaffected by this. Wet gas monitoring can be a severe hurdle in Barnett Shale. Additionally, the company’s water remediation technologies come into play here, removing contaminants from the water extracted from the well.
All of Wescorp’s operations are designed with environmental remediation in mind, proving that this is a company that not only provides integral services to oil & gas, but that it also respects our fragile eco-system in the process.
Wescorp Energy Inc. (WSCE.OB) Field Intelligence Services Improve Fossil Fuel Production Efficiencies
Wescorp Energy Incorporated is an oil and gas operations solutions company based in Canada that helps oil and gas service companies perform more efficiently. The primary goal of Wescorp is to pioneer solutions and technologies designed to reduce cycle times and slash costs for oil and gas field operations. The solutions Wescorp helps create come from a combination of both ideas and services that can add up to create efficiencies in operations and production.
Wescorp Energy’s field intelligence services provide users with meaningful information that is necessary to optimize oil/gas field production. Wescorp provides this critical data and information in any format necessary, and it can be modified to fit any application. The information is delivered within decision-cycle times and in a way that’s useful so that field engineers can make the right decision every time. This saves the engineers onsite time and energy in terms of activity and economics.
The company’s oil and gas management solutions analyze user’s current processes, recommend needed changes and provide the equipment and personnel to implement and sustain these changes for ongoing operations. They can be installed quickly and kept running with very little maintenance or upkeep. With this system running, the user can rest assured that it is constantly optimizing the effectiveness of key performance indicators and decision making based on information vital to the success of oil and gas field operations. Flow rates, leak detections, compliance records and hydrocarbon composition are just a few important pieces of information that are monitored throughout every stage of the operation process. The software is a major building block toward easing the minds and pockets of project managers.
Wescorp Energy Inc. (OTCBB: WSCE) Interview Highlights Proprietary Technology for Oil & Gas Industry
Wescorp Energy Inc. (OTCBB: WSCE) Chairman Mark Norris was recently featured on SmallCapVoice.com in an audio interview to discuss the energy solution company’s business model, management team, recent news and outlook for the future.
While Wescorp Energy’s business model is based on two main proprietary technologies, its main focus is on solutions to effectively manage the disposal of fresh water in the oil and gas industry.
With the company’s remediated water solution technology, the amount of oil in residual water waste is reduced to .0005 percent - a significant improvement from .5 percent with traditional methods.
According to Norris, a lot of water is wasted in oil and gas drilling; this solution is an answer to environmentalist and government pushes to reuse as much of that water as possible.
“We have spent a lot of time and energy developing a model that is what we believe, an industry leader. Our water remediation systems are second to none in North America,” Young stated in the interview. “We believe our machines will go a long ways to help oil and gas providers clean up their sites.”
Norris said while 2008 is by far the best year for the company, he hopes 2009 is even better. Wescorp Energy’s water technology was put to use at a test site in February of 2008; so far, the test sit has attracted more than 40 visitors from governments, universities and other institutions wanting to see the technology.
In light of the testing, the company recently announced it has signed a long-term lease with a major oil and gas producer intending to purchase up to 250 of Wescorp Energy’s water remediation units.
“They came, they saw, they tested, and now they bought,” Young stated. “Our large initial order, based on the results of our test model, is going to lead more people in the industry to our door, and we’re very excited about that.”
Wescorp Energy Inc. (WSCE.OB) Field Intelligence Helps Projects Flow Smoothly From All Ends
Wescorp Energy Incorporated is an oil and gas operations solutions company based in Canada that helps oil and gas service companies perform more efficiently. The software and hardware solutions offered by the company allow for effective solutions and monitoring capabilities at worksites and remotely via the Internet. All aspects of the worksite can be monitored from operations, including necessary maintenance and even tracking all shipping and receiving. Proper monitoring of worksite information has been proven by Wescorp to save time and drastically reduce energy costs for oil and gas companies.
Increased efficiency with less manpower is one of the primary goals of Wescorp Energy’s field intelligence services. The result of these efficiencies are evident in the bottom-line savings realized by happy customers. In addition to saving money on labor costs, the real-time data monitoring allows management to make educated, real-time decisions that can save money by optimizing performance and, in some cases, avoiding large mistakes. Wescorp’s Oil & Gas Management Solution software analyzes current processes, recommends needed changes and provides the equipment and personnel to implement and sustain these changes for ongoing operations.
The NAVIGATOR software solution helps manage all components of the production process from when the product leaves the well until it leaves the sales facility. The oil and gas can be tracked through the pipelines and throughout the processing plants to ensure cleanliness and compliance with regulator’s guidelines. Other critical information is monitored at all times to maintain a safe work environment and to ensure maintenance is carried out regularly and when needed.
Another component to the company’s field intelligence software is resource management. No longer do supervisors need to depend on illegible, damaged or missing markings on their assets. With this product, each piece of equipment can be outfitted with an individual tracking radio-frequency identification (RFID) chip. This RFID can be tracked using a computer for the life of the asset and scanned using a handheld device while out in the field. It stores data and information, including maintenance history, securely online and for collaborative initiatives. This means management will always be able to locate any piece of machinery needed, and at the same time get the drawings and manual or service records on it. Resource management is just one more way Wescorp is helping to optimize the oil and gas services industry.
Small Cap Voice Featured Company: Wescorp Energy Inc. (WSCE.OB)
Wescorp Energy Inc. (WSCE) is an oil and gas operations solutions company focused on commercializing technologies that overcome tough operations challenges facing oil and gas operators today. Wescorp combines its intellectual capital, oil and gas industry experience, best practices methodologies and its market offerings to deliver these solutions in a timely, economic and environmentally friendly manner.
Wescorp’s main focus technology is their Water Remediation and Purification Technology, wholly-owned through a subsidiary, Total Fluid Solutions Inc.. The Water Remediation and Purification Technology based offerings by Wescorp can remove hydrocarbon contamination content from water and soil and can prove an effective tool in meeting environmental, regulatory and safety issues facing the World’s Energy Industry today and in the future. Conventional technology removes hydrocarbon contamination content down to 0.5% to 3% (5,000 to 30,000) parts per million - Wescorp removes hydrocarbon contamination content down to 0.005% (50 parts per million).
There are over 800 producing oil companies in Western Canada alone, ranging from a one well producer to producers with thousands of wells. There are in excess of 17,000 batteries that are storage facilities for contaminated formation water that requires remediation prior to re-injection into the oil reservoir just in the province of Alberta. These batteries range in storage capacity from 200 to 50,000 barrels of toxic water. Wescorp’s technology can have a significant economic and environmental impact on virtually all oil producing fields.
Recently, the company was rated a “Speculative Buy” with a $0.90 12-month target price by Ubika Research. In the 32-page report, Ubika Research stated, “We believe that Wescrop has embarked on a smart strategy of focusing on operational issues faced by oil and gas companies. The oil & gas industry is very diverse and there are mainly small and mid-sized producers that face tremendous challenges in meeting operational, environmental and regulatory challenges. Wescorp’s solutions solve specific and practical problems for oil and gas operators and hence have a large and willing market to which it can cater.”
Wescorp Energy, Inc. (WSCE.OB) - Cleaning Up Oil & Gas Operations
Wescorp Energy assists Oil & Gas companies in streamlining operations and maintenance procedures using a wealth of cost-cutting technologies. Among these is Wescorp’s Environmental Remediation program, in which the company uses its Total Fluids Solution to aid in keeping drilling projects planet-friendly.
The Total Fluids Solution is a specially formulated, bio-degradable mixture of chemicals that is introduced to the well for the purpose of isolating and removing harmful contaminants. The solution successfully separates large solids such as drill cuttings and fine sands that can cause expensive well damage. Utilizing specialized aeration techniques during the introduction process, the Total Fluids Solution also creates microscopic bubbles that bond with, and remove damaging hydrocarbons.
Traditional methods of oil and water separation have been known to leave as much as 30,000 parts per million (ppm) hydrocarbons, whereas the Total Fuids Solution leaves less than 5,000 ppm. Separation at the well site can seriously reduce the cost of operations by nearly eliminating the need for costly transport of fluids to proper facilities.
This company has found ways to help Oil & Gas producers reduce costs, and in effect, increase profits, while at the same time using technologies like the Total Fluids Solution to do so in a manner that will not harm the environment. This fact alone is enough to count Wescorp Energy as a value to the industry.
Wescorp Energy, Inc. (WSCE.OB) Subsidiary Offers Key Products for Natural Gas and Gas Flow Measurement
Flowstar Technologies, Inc. was founded in 2001 with the company goal of providing the energy industry with world-leading natural gas and liquid gas flow measurement solutions. The company later received CSA certification for their first generation Digital Chart Recorder (DCR) metering system. A year later, Flowstar Technologies was acquired by Wescorp Energy Inc. (OTCBB: WSCE), and has become an established subsidiary offering the DCR computer that provides one of the best gas measurement solutions for the oil and gas industry.
The DCR computer uses a highly accurate integrated pressure transducer, an integrated RTD temperature probe and a next-generation gas turbine. The company’s DCR1000 is a complete replacement unit that can be installed for gas flow measurement in place of the traditional meter run, office plate, and paper chart recorder system. By using a Windows’ based programming interface for setup of the date, time, units to be displayed, sampling frequency, and gas composition and uses AGA3, AGA7, and AGA8 for compressibility calculations, there is no extra or unwarranted work involved.
Flowstar Technologies gas turbine flow meters can withstand entrained liquids within the gas stream. By having the capacity of a very large turn down ratio – 40:1 or more – this produces a substantial increase in flow measurement accuracy compared to the traditional orifice plate system. If an optional MCP pickup is used, then the turn down ratio will increase to 100:1. The company’s turbines can also handle extremely corrosive solutions such as hydrogen sulfide and wet gas. These turbine flow meters have been designed to last for up to 25 years and upfront costs for new installations are reduced as both new and retrofit installations benefit greatly from the reduced maintenance cost as well.
Wescorp Energy Inc. (WSCE.OB) Board of Directors Brings Proven Experience to the Table
Wescorp Energy Incorporated is an oil and gas operations solutions company based in Canada that helps oil and gas service companies perform more efficiently. The company, founded in 2003, has a strong team of leaders running the company, and boasts an arguably more impressive board of directors, helping to lead the company every step of the way. The leadership and guidance provided by the board comes from the well over 100 years of experience the members combine in the fields of business, finance and energy.
John Anderson is the former President and CEO of Wecorp from March 31, 2003 until the appointment of current President, Doug Biles, on May 28, 2004. Anderson has served as a director since October 4, 2001, and has served as Wescorp Energy’s secretary and treasurer since April 24, 2003. Anderson possesses over 18 years of experience in the fields of financial consulting, investor relations, and real estate management positions.
On the business side, Terry Mereniuk, brings over 15 years of experience in finance, financial structuring, taxation and internal and external reporting. Mereniuk has been CFO of Westcorp Energy since March 2003. He is a chartered accountant and certified management consultant. Mark P. Norris is another board member who is also a well-known Alberta businessman with extensive experience in both the private sector and government. He has been on the board since March 2007, and previously served as Alberta’s Minister of Economic Development from 2001 to 2004.
From an engineering standpoint, Robert M. Nicolay, who currently serves as Vice President of New Development for Pengrowth Energy Trust, is a member of the board. Nicolay is a highly respected energy industry executive with a proven track record of success, leadership and community involvement over the past 27 years. Alfred Comeau is a petroleum engineer with over 35 years of experience and has served as a Wescorp Energy director since March 2003. He currently serves as a consultant to several engineering firms to provide firsthand knowledge of the petroleum industry.
Wescorp Energy Inc. (WSCE.OB) Executive Profile: Chairman Steve Cowper
Wescorp Energy Incorporated is an oil and gas operation solutions company founded in 2003. Wescorp Energy helps oil and gas companies in Canada operate and perform more efficiently. The company is led by a strong team with enormous amounts of experience in business, energy, finance and even politics. One of the most impressive members of the Board of Directors is current Wescorp Chairman, Steve Cowper.
Perhaps the most remarkable part of Cowper’s impressive resume is his political career. Cowper served as the Governor of Alaska from 1986 – 1989, and during that time received international attention for his emergency response management during the Exxon Valdez oil spill. He has also testified before the U.S. Congress on 14 different occasions on matters ranging from federal land use to national energy management. Cowper is considered an expert in the field of energy by many, and is a frequent speaker on energy policy and natural resource management at the World Bank.
Before Cowper’s career began, he earned his undergraduate degree from the University of North Carolina, Chapel Hill. He continued his studies at UNC and later received his law degree from their highly accredited program. Following college, Cowper served in the Army Medical Corps for five years before moving to Alaska and becoming an assistant district attorney. Cowper later opened his own successful law practice in Fairbanks before being elected to the Alaska House of Representatives.
Since 1992, following Cowper’s political career, he has been managing partner of Steve Cowper & Associates, of Alaska and Texas. This firm provides consulting services in the energy and natural resource development industry to private clients and local and federal government agencies. His diverse experience in politics and the environment led him to Wescorp Energy in 2006, where he currently serves as the chairman.
Wescorp Energy Inc. (WSCE.OB) Completes 60-day Nitrogen Testing Cycle
Wescorp Energy Inc. (WSCE.OB), a provider of oil and gas technology, announced today that it has completed a 60-day nitrogen test on its 2000 barrel-per-day commercial water remediation test unit. With its patented technology, the water remediation units provide a safe, effective, and cost-effective method of separating oils and solids from produced water. Wescorp’s remediation process can be performed right at the well site. The ability to remain onsite reduces a company’s liability for the maintenance and transport of contaminated materials to an offsite facility. The Wescorp process is able to separate and clean drill cuttings and transforms them into environmentally-approved solids that can be used commercially as gravel or fill.
Conventional oil/water separation methods typically generate produced water containing 0.5% to 3% (5000 to 30,000 parts per million) oil. Wescorp’s nitrogen test cycle-generated produced water contains less than 0.005% (50 parts per million) oil. Wescorp wanted to confirm the effectiveness of using only nitrogen gas in the microscopic bubble generator that would produce only environmentally friendly byproduct gases. The use of nitrogen in the process would contribute to Wescorp receiving Kyoto carbon tax credits.
Doug Biles, President and CEO of Wescorp, stated, “With the addition of Kyoto credits being obtainable through the use of our water solution, Wescorp’s technology has again proven that it provides a positive environmental impact as well as strong economic advantages. Implementation of environmentally friendly technology often causes an increase in operational costs or a decrease in revenue. Our water remediation technology is different - oil and gas operators can save money by using our system. Wescorp’s solution reduces the operators’ costs by lowering the expenses associated with water management, waste removal processes, transportation of waste material, service and repair to the injection and disposal wells and environmental liabilities. We believe that based on the strong economic and environmental advantages of our water remediation solution, it will be very difficult for oil and gas operators not to adopt this technology into their water management strategy.”
“The successful results from the nitrogen tests for our patented water remediation unit are significant for Wescorp,” added Mark Norris, Chairman of Wescorp. “Wescorp is now able to offer to lease these units to conventional oil and gas operators, as well as heavy oil producers, with an added selling feature. By using Wescorp’s solution for water remediation, companies can further reduce their carbon emissions. There are additional emission reductions through a decrease in service and repair work on injection and disposal wells. This can result in significant cost savings and reduction in overall operating costs. When oil and gas operators use our water management solution, the advantages are numerous. Companies can operate in a more environmentally friendly manner, decreasing operating cost and increasing profitability all at the same time. We intend on using nitrogen generators on all future units including those going to Kansas, Wyoming and Texas as part of our large order for up to 256 units.”
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