Wavefront Energy & Environmental Services Inc.
Wavefront first began field trials on the PowerWave technology in 1998, and was primarily engaged in further testing and development until 2008. Those tests yielded promising results in stimulated wells - a recent field in Alberta saw production increase from 135 bopd and a 2.3% monthly decline to 220 bopd six months after the installation of 3 PowerWave tools.
In 2008, the company moved its focus to sales of the PowerWave tool. In January of 2008, only 8 tools had been installed. As of this writing in October 2008, 32 tools are installed with orders for 74 more announced, for a total of 106. Wavefront's business model is based on leasing these tools at a cost of $30,000 per year.
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