- Global oil and gas production chemicals provider Hydrocarbon Dynamics (HCD) has received a repeat order from a distributor for the Multi-Flow product, for around $80,000
- The product is being used in an ongoing trial by a midcap Canadian oil and gas producer, testing the ability of HCD Multi-Flow to reduce or prevent the buildup of paraffin deposition in wells and flowlines
- The distributor has reported an increase in production of around 13 per cent across 15 wells at the trial project in Alberta
- The new order from the distributor is for the ongoing trial as well as in anticipation of being awarded further trials in Canada
- Shares have been up 25 per cent at 3 cents
Global oil and gas production chemicals provider Hydrocarbon Dynamics (HCD) has received a repeat order from a distributor for the Multi-Flow product, for around $80,000.
The product is being used in an ongoing trial by a midcap Canadian oil and gas producer, testing the ability of HCD Multi-Flow to reduce or prevent the buildup of paraffin deposition in wells and flowlines
Multi-Flow is a chemical injected into pipelines and wells to control waxes, asphaltenes and resins which can accumulate and decrease flow rates.
The distributor has reported an increase in production of around 13 per cent across 15 wells at the trial project in Alberta and is projecting a reduction in costs of more than 50 cents per barrel of oil equivalent.
The new order of HCD Multi-Flow will be used in the ongoing trial in Alberta and is also in anticipation of the distributor being awarded further trials in Canada.
Shares have been up 25 per cent at 3 cents at 3:40 pm AEDT.