13 August 2019
CannSeal enters US market through exclusive partnership with Renegade Services
New agreement will make CannSeal's technology available to US-based operators
Renegade Services will support CannSeal with operations and marketing of the technology in the US
US is a strategic market for CannSeal due to the number of wells requiring improved annular isolation
Stavanger, 13 August 2019 – CannSeal, the specialist in annular isolation technology, has entered the US market through an exclusive agreement with Renegade Services.
The new partnership will see Renegade Services market and operate CannSeal’s technology across the US and Gulf of Mexico. CannSeal’s technology is now available to operators looking to extend the life of a mature well or re-establish well integrity. Ahead of the launch, the Renegade Services team underwent a rigorous training programme in Norway. With support from CannSeal, Renegade Services will install, deploy and service the proprietary tool.
The CannSeal technology works by injecting a tailored epoxy sealant into the annulus at a pre-defined location using the patented delivery tool. It is designed to target two key industry challenges; well integrity and annular zonal isolation. The fully adaptable solution re-establishes well barriers in the hardest-to-reach areas of challenging wells with minimal interruption to production. In addition to rigorous and systematic testing, the CannSeal tool boasts a track record of more than 50 runs both onshore and offshore.
CannSeal’s Chief Executive Officer, Bengt Gunnarsson, commented: “It is a proud moment for us as we enter the US market for the first time. As the largest independent provider of cased-hole electric wireline services in the US, Renegade Services was the natural fit to bring our technology to the US. Similar to us, Renegade Services is a team of engineers who are guided by an entrepreneurial spirit to champion new problem-solving technologies.
“The US is a strategic market for us, particularly for our IntergritySeal product. This is due to the huge amout of wells that require the cemented annulus to be sealed. In producing wells, our technology can relieve issues associated with sustained casing pressure or plug & abandonment.”
The news follows a year of growth for the Norwegian oil technology company. With new contracts awarded by clients including NAM, BP, Shell and Equinor, it has made significant investments in new technology. The business has also upgraded its website and branding proposition through Stavanger-based, energy marketing specialists, Project Neon. CannSeal will be showcasing its technology at Offshore Europe next month as part of the OGTC stand.
We welcome interest and enquiries from relevant industry media.