Compressco Focusing On Gas Lift
Company is acquiring compression assets as part of plan
Compressco Partners, an Oklahoma City-based provider of compression-based production enhancement services, said it is acquiring compression assets for "gas lift" markets as part of its strategic growth plan.
Ronald Foster, Compressco president, said “During the fourth quarter of 2013, we acquired 18 packages that feature natural gas driven, three-stage compressors that are available for deployment under service contracts into the gas lift market. Gas lift technology involves the use of compression equipment to inject natural gas downhole in order to increase oil and liquids production primarily in horizontal wells.”
Foster said the compressor packages, which the company calls the SuperJack, are focused on drilling projects in the liquids-rich Granite Wash, Eagle Ford, and Woodbine shale plays where Compressco has service coverage already in place.
“The addition of the SuperJack to our existing compression equipment fleet is part of our organic growth into this gas lift market space,” he said. “We believe the strategy of entering this market creates tremendous synergy with our existing GasJack and V-Jack production enhancement technologies and will provide a broad footprint for growth.”