Venture Sphere is working with a joint venture partnership which includes a land owner, oil well operator and operations team to secure financing for a renovation project.

U.S. Oil Production Hits Record High Despite Fewer Rigs

U.S. crude oil production reaching a new record high of 11.3 million barrels per day demonstrates the industry's resilience and ability to thrive, even in challenging market conditions. A 3% year-over-year growth, despite fewer active rigs, highlights the sector's operational efficiency and potential for continued scalability.

OIL WELL RENOVATION GOALS

  • Restore Production - General Maintenance

    Addressing issues like clogs, water encroachment, or formation damage to revive production back to original or acceptable levels.

  • Enhance Production - Perifin Clean Out

    Improving flow efficiency by increasing permeability, improving reservoir access, or removing restrictions.

  • Extend Well Life - Acid Wash

    Delaying the need to abandon the well by making it more productive or addressing operational issues.

  • Optimize Well Performance - Rod Refurbishment

    Applying new technology or methods to extract more hydrocarbons that were previously unreachable or too expensive to extract.

Over 46 years of experience in the oilfield industry, with 37 years specifically in directional drilling.

  • Extensive global experience, with consulting roles in North and South America, Africa, and the Gulf of Mexico.

  • Proficient in horizontal and conventional drilling, including complex environments like hard rock, salt domes, and Gulf Coast offshore operations.

  • Successfully drilled over 200 directional wells across various terrains and operational environments.

  • Completed specialized training at Eastman Whipstock School, Christenson School, Security Bit School, Milchem Mud School, Diamond Boart School, Hughes Bit School, and Randy Smith Stuck Pipe School.

2015-2018

Integrity Directional Drilling

2011–2015

Scorpion Directional Services, L.L.C.

2010-2014

Terra Directional Services, L.L.C.

2008-2010

Wellbenders Directional Drilling

1998-1999

Government of Venezuela and Bolivia

2004-2006

Gabon (West Africa) with Schlumberger

1997-1998

Government of Venezuela and Mexico

1999-2001

Bolivia/Houston with Phoenix Technologies

Project Goals:

Re-working an oil well is a practical method to rejuvenate aging wells and optimize hydrocarbon extraction. By addressing issues that hinder production or utilizing new technology to access additional reserves, operators can maximize the life and output of the well, enhancing overall project economics and extending the productive lifespan of oil fields.