Uncertainty Mitigation in Well DesignTue, 01/21/2020 - 19:50
Q: How did the company perform in 2018 and what is your key focus?
A: We experienced an improved market in 2018 and look forward to an active 2019. We expect significant growth in the southern region of Mexico, including land and offshore operations. PEMEX has adjusted its business model and the drilling of wells must be economically viable. Our value proposition aligns with PEMEX’s goals because we offer responsible, efficient and enhanced drilling operations, while addressing cost and time optimization.
Many things can happen when drilling 5,000m below the surface. We strive to minimize uncertainties to ensure operations run smoothly. In addition to providing solutions, we also seek to strengthen our relationship with operators by offering comprehensive technical support.
Q: Your value proposition is a tailored solution. What is the process for a chemical solution that can be placed into the ground?
A: We participate from the conceptual stage when a challenging well is being designed. A well may need several casing sections to reach a certain depth but we can minimize the number of cased sections depending on the geological characteristics of a formation. Our technology works in drilling fluid and cement spacer fluid and leads to a dramatic decrease in operational time to complete the well construction.
Q: How do you position yourself to target the operators that are working in mature fields?
A: We are confident in the value we bring to the industry. Geologically, South Texas has a similar makeup to Mexico, with only a river separating the two. We already have the knowledge and have developed solutions that have been successfully applied in South Texas. We are waiting for operations to begin in the northern part of Mexico so we can implement these solutions here and introduce our efficiencies.
Q: What are the main environmental challenges Impact Fluid Solutions faces?
A: We are already working in deepwater projects in Mexico and on the country’s maritime border. Our products were designed to be used in the North Sea where environmental regulations are very strict. Our technologies have passed all toxicity tests and are approved for use in Mexico. Our differentiation as a provider of environmentally sound solutions became even more relevant when regulations were strengthened with the creation of the Energy and Environmental Security Agency (ASEA). The goal of this organization is to create safer operating conditions and environmentally-friendly processes, as well as ensure the community is taken care of. Our company is well-aligned with these goals.
Q: How long does it take Impact Fluid Solutions to introduce new products into the market?
A: The core of our company is fluid science. New fluid concepts and product development are constantly expanding at Impact. Over 25 percent of our team is comprised of scientists working on new technology. Research and development are a long-term process and depending on the technology, can take one to five years. However, we have a track record of working with operators to develop tailored solutions.
Q: What areas of growth have you identified and what products will you bring to the market in the near future?
A: Activities with a high level of uncertainty, such as deepwater exploration, are appealing markets for our value proposition. Our ultimate goal is to deliver fluid solutions that are purpose-built to solve complex wellbore challenges. However, some of the deepwater projects may start two years from now. In the short term, our main area of growth will be inland or in shallow waters in Mexico.
Impact Fluid Solutions manufactures and sells additives for oil and gas operators, fluid companies and oilfield service providers worldwide. The company offers drilling additives in various categories. It was founded in 2005 and is based in Houston.