CALGARY, ALBERTA -- (Marketwired) -- 06/16/13 -- Xtreme Drilling and Coil Services (TSX: XDC) announce record depths reached for coiled tubing completion operations in the Eagle Ford shale.
XSR Operational Update
In the month of May Xtreme continued to increase the reach at which operators are able to efficiently complete wells in the Eagle Ford. The company completed three separate wells with lateral lengths greater than 10,000 feet. The total measured depth on these wells ranged from 19,800 to 20,400 feet with up to +41 composite completion plugs in the well. The longest of the three wells had a lateral length of 10,240 feet (calculated from 80 degrees) and was completed in 5 1/2 inch casing.
In addition to the record lengths achieved, the operating performance was equally impressive. The units had an average of 2.5 motor stalls per well and milled each completion plug in less than nine minutes. Utilizing Xtreme's automated milling system the coiled tubing was able to successfully reach the toe of the well while still having additional capacity to apply weight on bit.
Xtreme's technology has now consistently proven it can perform extended reach operations in casing string sizes of 4 1/2" and 5 1/2", which are the standard in the Eagle Ford and Bakken. While it has refined the process to maximize reach in the extended horizontal sections, Xtreme has minimized the risk of losing coiled tubing in the well. By utilizing large diameter coiled tubing Xtreme is able to generate higher circulating rates to better clean the hole. This, coupled with the significant increase in pulling capacity and electric injector control, has given customers the confidence to extend their horizontal completions in the Eagle Ford.
With more than 7,000,000 running feet and over 200 jobs, Xtreme has never left coiled tubing or tools in hole. This is an exceptional feat as leaving coiled tubing in hole not only delays time to production but is also a very costly retrieval exercise for the operators. Xtreme is presently working with operators to push beyond 21,000 feet of total measured depth in the Eagle Ford and provide a service to customers that no other coiled tubing company can offer.
About Xtreme
Xtreme Drilling and Coil Services Corp. ("XDC" on the Toronto Stock Exchange) designs, builds, and operates a fleet of high specification drilling rigs and coiled tubing well service units featuring leading-edge proprietary technology including AC high capacity coil injectors, deep re-entry drilling capability, modular transportation systems and continuous integration of in-house advances in methodologies.
Currently Xtreme operates two service lines: Drilling Services (XDR) and Coil Services (XSR) under contracts with oil and natural gas exploration and production companies and integrated oilfield service providers in Canada, the United States and Saudi Arabia. For more information about the Company, please visit www.xtremecoil.com.
Contacts:
Xtreme Drilling and Coil Services Corp.
Matt Porter
Chief Financial Officer
+1 281 994 4604
ir@xtremecoil.com
www.xtremecoil.com
