Rigless Intervention Tools Elevate Artificial Lift To New Production Gains

By many industry estimates more than 90% of all producing wells worldwide require some form of artificial lift to bring hydrocarbons to the surface at economically viable rates. As production declines, various forms of artificial lift can be implemented to maximize recovery. However, common challenges associated with the retrofitting process—including securing and deploying a workover rig, incurring nonproductive time (NPT) and deferring production—can sometimes erase the profit of a marginally economic well, forcing the operator to devalue the asset or abandon it altogether.