Benefits of Lemur Technology

The LEMUR technology of Profero Energy brings a range of benefits to oil companies and oil asset owners.

Increased oil or gas production:

Existing production can be increased or commenced on reserves not presently in production. This refers to conventional oil or heavy oil capable of being brought into cold production. For heavy oil too viscous to flow for cold production then a viscosity lowering technology can be applied to certain heavy oil reserves to bring them into cold production for Profero provoked production increase thereafter. Oil and gas assets are predominantly valued per the net present value of production profits. Increases in production rates as well as overall oil recovered can therefore have a substantial increase in the value of proven oil reserves.

Enhanced recovery of original oil in place:

Profero’s technology can recover more oil from suitable reserves than standard production techniques including established enhanced oil recovery (EOR) methods. The pressurization of the reservoir is achieved in the area local to the injection well. This can be replicated throughout the reservoir increasing recovery. Additionally the process utilizes bacteria and archea already in the reservoir thereby creating an effective bioreactor, consequently as renewed production causes pressure decline it can be left to allow pressure to build again. This means the potential incremental increase on recovery through successive periods of production followed by re-pressurization can be substantial.

Arrest & reverse production decline and extend well pay:

For both heavy oil and conventional oil production, the pay period of a well can be extended considerably by as much as 10-20 years while also enjoyed increased production and enhanced recovery.

Minimal technical risk:

The technology is typically applied to proven reserves of oil which are either in decline, abandoned, are unrecoverable or have sub-optimal production. Such reserves do not carry exploration risk arguably the largest technical risk in the oil industry. Development of proven oil resources uses standard wells and engineering equipment as utilised in standard development programs. Work to characterize the reserves in differing areas of the field may be necessary to obtain the optimum solution but again this uses standard tried and tested techniques for sampling.

Minimal reserve development costs:

The infrastructure required to stimulate a well with the Profero technology is standard for traditional development and recovery. As a result existing infrastructure and wells can be used meaning these costs are minimized. Alternatively the optimum solution may suggest new wells largely replicating the costs and process of a typical development program.

Delay remediation liability costs:

At the end of a well’s production, the producer is generally required to return the well site to pre-drilling conditions. This remediation liability can range from $50,000 to as much as several hundred million dollars in an offshore environment. Implementation of the Profero technology delays and offsets – with new income from otherwise unrecoverable oil resources – this remediation expense by creating new resource potential and extending the payout period. As a consequence capital is freed for use in other projects increase.