Linear Pump Update
Divergent (DVG.V) continues to advance the Linear Pump towards commercialization, and throughout 2016 has amassed valuable data and operating information following the installation of the Linear Pump in a well in Southeast Saskatchewan.
Well that sounds promising.
As outlined in the Company’s March 31, 2016 press release, the Linear Pump was removed from the well following a decoupling of the pump shaft from the motor.
After modifying certain operating parameters, a new Linear Pump was re-installed in the same well on May 17, 2016.
Okay, that’s better.
After 19 days of consistent run time and pump rates, it was observed that although the Linear Pump continued to function normally and was responding to commands, fluid production from the well had ceased.
for the love of God.
A series of standard operating procedures were undertaken over several days in an attempt to rectify the issue from surface, and the Linear Pump continued to appear to be functioning normally over the course of the procedures.
After several attempts to regain the flow of fluid, Divergent and the client have elected to remove the Linear Pump and conduct a visual inspection to identify and understand the cause of the issue. Due to ongoing wet weather in the area, the client has been unable to access the wellsite, but believes access may be possible during the week of June 27, 2016 based on current weather forecasts. Following the complete examination of the Linear Pump, Divergent will provide further details and outline next steps.
If public companies could fart, this press release is what they would sound like.
In the interim, Divergent continues to market the Linear Pump with other potential clients who have expressed interest.
I’m sure that’s going to be really easy.
This is what is supposed to happen:
The Linear Electromagnetic Submersible Motor creates the reciprocating motion that is conventionally created at surface by pumpjacks and transferred to the pump by sucker rods. By creating motion at the bottom of the well, the mechanical efficiency is increased with the motor coupled directly to the downhole, reciprocating positive-displacement pump. The Pump is powered and controlled by a variable frequency drive at surface via an industry standard electric cable that is attached to the outside of the production tubing. The elimination of surface lifting equipment and sucker rods directly reduces operating costs in environments such as deviated and horizontal wells.
Great idea, if it works oh wait it doesn’t and now the first group to agree to let Divergent test it is sending it back because fuck this noise.
Divergent stock was halted for a bit when this news went out (in a late Friday news dump), then lost 30% of its value on trade resumption today, on surprisingly thin trading, which means it’s one more significant trade from falling a lot further.. inn fact, as I write this, the level 2 numbers show almost no resistance until around $0.13.
Perhaps the ‘Divergent’ in their name refers to their risk and reward lines…
— Chris Parry