Market Overview

Schlumberger and Production Plus Announce Joint Venture

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Schlumberger Limited and Production Plus Energy Services are pleased to
announce creation of Joint Venture (JV) Entities for the purpose of
developing the HEAL System™ technology and business. Effective on May 31st,
the JV began functioning globally as HEAL Systems™.

This Smart News Release features multimedia. View the full release here:
http://www.businesswire.com/news/home/20170619005882/en/

The HEAL System offers a proven solution to mitigate slug flow that enables fewer, and simpler, arti ...

The HEAL System offers a proven solution to mitigate slug flow that enables fewer, and simpler, artificial lift transitions while lowering production costs. (Graphic: Business Wire)

This joint venture will offer producer's global accessibility, enhanced
quality control and assurance, as well as greater certainty regarding
the beneficial capabilities of the HEAL System™. The JV will
autonomously develop its business in the United States and Canada,
whereas outside of those defined regions, Schlumberger will be the sole
distributor of the HEAL System technology.

"Producers are looking for proven solutions to reliably produce their
wells as efficiently as possible over the entire production life cycle.
Our mission with the HEAL System is to deliver those solutions," said
Jeff Saponja, Chief Executive Officer of HEAL Systems™.

Benefits of the HEAL System

Horizontal wells are known to have production challenges as a result of
inconsistent multiphase slug fluid flow, damaging solids and excessive
pump gas interference. Production through the life cycle of horizontal
wells often requires complex and expensive artificial lift strategies.
The HEAL System offers a proven solution to mitigate slug flow that
enables fewer, and simpler, artificial lift transitions while lowering
production costs. An example result, as indicated by the gas production
rate, is shown as follows:

With no moving parts, the HEAL System easily integrates into standard
horizontal well completions and is designed to perform over the life of
the well. The products in the HEAL System™ suite are designed to benefit
a horizontal well's entire producing life – controlling frac flowback,
extending the natural flow period, simplifying transition between
artificial lift phases, lowering operating expenses, eliminating costly
intermediate artificial lift and cost effective protection from damaging
offset inter-wellbore communication (frac-hits).

The HEAL System has consistently achieved productivity increases of more
than 30% to over 100% in typical horizontal wells across Western Canada
and the United States

About HEAL Systems, formerly Production Plus Energy Services Inc.

HEAL Systems is an oil and gas production optimization innovator that
engineers and delivers reliable production and artificial lift enhancing
systems to oil and gas operators. Its product, the HEAL System™,
complements existing artificial lift systems, has no moving parts and
benefits a well during any phase of its life cycle. The HEAL System has
reduced operating costs in nearly 200 wells in over 35 formations across
North America.

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