Calgary, Alberta--(Newsfile Corp. - February 19, 2019) - Raise Production Inc. (TSXV: RPC) ("Raise" or the "Company") announces receiving a USA PATENT Notification of Allowance for its High Angle Reciprocating Pump (HARPTM).
High Angle Reciprocating Pump (HARPTM)
The Company is pleased to announce that it will be receiving the system and device patent consisting of 12 claims from the United States Patent Office for its High Angle Reciprocating Pump (HARPTM). Raise received a Notification of Allowance for its U.S. patent application with the only remaining item being the payment of registration fees.
The U.S. patent is important since it proves that the Company has taken decades old technology and made significant unique evolutionary improvements that allow the HARPTM to be utilized in more challenging directional and horizontal well bores, allowing E&P operators to access previously inaccessible hydrocarbon liquids. The technology is being proven out by increasing daily productivity, lowering decline rates and has the high potential to improve the "Type Curve" and increase asset values of oil and gas properties. The Company expects additional patents from Canada to follow.
The High Angle Reciprocating Pump (HARPTM) is part of Raise's three technology phases designed to increase hydrocarbon reserves from high angle and horizontal well bores and is the second of the three phases to be awarded patents from the USA.
Eric Laing, President commented:
"This is another significant patent for the Company as it proves differentiation of the Raise product in a commodity type market and is further validated by the overall performance of the HARPTM installs with operators who have benefitted from accretive production, lower lifting costs and eliminated the operational issues associated with conventional rod pumps in high angle well bores."
About Raise Production Inc.
The Company is an innovative oilfield service company that focuses its efforts on the production service sector, utilizing its proprietary products to enhance and increase ultimate production in both conventional and unconventional horizontal oil and gas wells.
For further information please contact:
Eric Laing, President and Chief Executive Officer
Raise Production Inc.
2620-58th Avenue S.E.
Calgary, Alberta T2C 1G5
Tel: (403) 699-7675
Web site at: www.raiseproduction.com
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