Last C$2.30 CAD
Change Today +0.04 / 1.77%
Volume 46.3K
As of 3:59 PM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).

raise production inc (RPC) Snapshot

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04/17/14 - C$3.50
52 Week Low
10/18/13 - C$0.60
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raise production inc (RPC) Details

Raise Production Inc., an oilfield service company, provides artificial lift, data gathering, and management solutions to the oil and gas industry in Canada. It offers interlift optimization products, including lubricators, controllers, intermitters, hold downs, gas recirculation products, velocity tubes, and wellhead chambering products; accessories, such as dynavalves, drop tools, dynadrift casing scrapers, dynagrip wellhead hangers, dynalok running tools, dynahold/dynapacks, dynavalve electrical interface products, FFC valves, fan packers, sureshift tools, velocity tube isolation check valves, and velocity tube release subs; and compression systems, including screw, reciprocating, and scroll compressors. The company also provides Prospector, a software that is used to scan through volumes of IPL and PVR data using specific technical search criteria to find suitable liquid loaded candidate wells; and DataServe, a well management system that enables users to manage wells and optimize production. In addition, its services include training and seminars, design and manufacturing of custom solutions, engineering evaluation and consulting, and technical support. The company was formerly known as Global Energy Services Ltd. and changed its name to Raise Production Inc. in November 2011. Raise Production Inc. was incorporated in 1993 and is headquartered in Calgary, Canada.

Founded in 1993

raise production inc (RPC) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$150.0K
Chief Financial Officer
Total Annual Compensation: C$130.5K
Vice President of Business Development
Total Annual Compensation: C$21.1K
Vice President of Engineering
Total Annual Compensation: C$111.7K
Compensation as of Fiscal Year 2013.

raise production inc (RPC) Key Developments

Raise Production Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2014

Raise Production Inc. reported unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenue of $80,762 against $13,177 a year ago. Net loss and comprehensive loss was $408,425 or $0.00 per basic and diluted share against $1,028,297 or $0.02 per basic and diluted share a year ago.

Raise Production Inc. Reports Earnings Results for the Year Ended December 31, 2013

Raise Production Inc. reported earnings results for the year ended December 31, 2013. For the year, the company reported revenue of $289,549 against $198,310 a year ago. Net loss and comprehensive loss was $2,593,429 or $0.04 per basic and diluted share against $4,185,377 or $0.11 per basic and diluted share a year ago.

Raise Production Inc Provides Update on Field Testing of Horizontal Wellbore Production System

Raise Production Inc. provided its shareholders with an update regarding recent field testing of its horizontal wellbore production system. As previously reported, the first 'commercial' type System replaced the two pump prototype System in January, 2014 in a Viking reservoir near Kindersley, Saskatchewan. The 'commercial' type System comprised of multiple pumps was deployed along the entire horizontal length of the wellbore. In mid-February it was determined that a threaded connection utilizing a thread sealing compound had failed during the installation or immediately thereafter, compromising System function. In response, Raise retrieved the System from the wellbore and returned it to the Company's facilities for diagnostic testing. Testing indicated that all Raise manufactured components were in good working order and the issue was corrected with a change to installation procedures. The System was successfully redeployed, with appropriate modifications, and in-field testing resumed in March. Although unplanned, this operation demonstrated again that the System can be deployed and retrieved in close tolerance wellbores without issue. Based on testing to date, the System is working in accordance with Raise's theoretical framework of horizontal well flow. The company has documented strong results from the horizontal section, including higher shut in pressures indicating that the less depleted sections of the reservoir are now being accessed. Dynamic flow changes in oil, water and gas along with the production of segregated water indicate the System is "sweeping" the wellbore as predicted. This 'sweeping' effect is important as it reduces the frictional effects of the fluids in the wellbore and in turn, allows for a more efficient production path along the entire horizontal length. The company is continuing to 'optimize' this new flow regime from the wellbore and will be in a position to complete this as soon as road bans are lifted and additional surface production equipment, not associated with System, can be moved on location. Initial testing to date has indicated 300% to 400% flow rate increases over certain short-term test intervals. It must be noted that the Company has not conducted long term production testing on this wellbore and no assurances can be given about sustainability of these increases. Raise further cautions that these results are based on intermittent testing due to the lack of surface production equipment arising from the new flow regimes the System has created in the well. Additional surface equipment will be installed after road bans are lifted. The company will continue to perform long term testing and monitor well production throughout the summer to capture System performance and production data. In addition to this update, the company informed shareholders that it is in negotiation with a new customer for its first commercial sale of a System for a well in the Provost area of Alberta, again in the Viking formation. The company is also performing sample testing of oil for a third potential customer in the Slave Point formation in Northern Alberta.


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