Galenfeha, Inc. (GLFH) Taps Opportunity in $1B Chemical Injection Market
The International Energy Agency (IEA) today projected that slowing North American oil production will cause non-OPEC supply growth to slow in 2015, though the agency raised its yearly forecasts of non-OPEC oil supply growth by 200,000 p/d to 830,000 p/d compared to last months’ report.
According to James Ketner, president and CEO Galenfeha, a manufacturer of chemical injection systems and other low environmental impact products, falling rig counts and balanced production levels means more oil producers are seeking efficiency. It also means potentially more business for the Texas-based company and its newest product.
“Although we have seen a reduction in exploration rig count over the last six months, production levels are remaining the same,” Ketner said in a recent statement. “This tells us that U.S. efficiency is on the rise. Shale producers have asked us to help them cut costs, and this latest addition to our product line helps meet these goals. We are happy to be directly assisting producers reduce costs while increasing production efficiency levels.”
Oil and gas producers are increasingly interested in efficient operations that minimize environmental impact – a feasible goal via a reduction in chemicals and highly accurate production.
Previous chemical injection methods are dated, operating similarly to the drip gas fuel delivery techniques of the early automotive industry. Galenfeha, however, has introduced a new and cutting-edge component to the nearly $1 billion North American chemical injection market.
Galenfeha’s recently launched intelligent chemical injection control system, iWaV, is comparable to modern, state-of-the-art computer controlled fuel injection systems. The product is an innovative supervisor control and data acquisition (SCADA) system specifically created for the control of chemical injection pumps.
Computer-controlled and highly reliable, the iWaV system enables optimization and management of production controls and is scalable for any size of operation, from remote stand-alone sites, allowing two-way communications with pumps and complete control of the entire system.
The result is lower monitoring and controlling costs throughout the pumping cycle, and highly efficient and cost effective well site management.
Galenfeha introduced the iWaV in late March 2015 and currently markets, services and sells the individual and complete systems via direct sales as well as established relationships with local and national distribution partners.
For more information, visit www.galenfeha.com
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