ProOne Announces Agreement with American Well Technology Holdings, LLC to Market First-Ever Artificial Lift System Down Hole Lubricant
COSTA MESA, California July 25, 2017 – ProOne Inc, a leader in extreme film strength lubrication technology, announced that it has signed a Master Distributorship agreement with American Well Technology Holdings, LLC, a Texas-based company, to bring to market the world’s first Production Lubricant, with patent pending: ProFlow – A Production Flow Technology Lubricant.
ProOne and American Well Technology have been working collaboratively for two years developing, successfully field testing, and filing a patent for this groundbreaking new application in the oil & gas industry. By using a lubricant to treat Artificial Lift Systems (ALS) to address the problems of inefficient production, high maintenance costs and untimely wear and failure, the team has demonstrated that treatment with ProOne’s XPL+ bonding nano-tech lubricant increases productivity, reduces lifting costs, and results in fewer failures, less downtime, extended service intervals and equipment life cycles.
ProOne and American Well Technology have now formalized an agreement whereby AWT has been granted a license by ProOne to be the Master Distributor for ProOne’s production well products in North America, including the US, Canada and Mexico.
“We could not be happier to enter into the next phase of this extraordinary co-development project with AWT,” said Lawrence Kahn, CEO of ProOne. “AWT has not only pioneered this important application for our technology, but has also garnered significant interest from major oil companies and chemical distributors across the country.”
Scott Rettberg, AWT’s Managing Partner, added “With Artificial Lift Systems being the workhorses of the oil production industry, it is surprising that lubrication has been a critical but generally unaddressed problem, until now. We approached the ALS opportunity as a natural extension of ProOne’s XPL+ Xtreme Pressure Lubrication technology for drilling fluids, except that we had to apply it to a production well rather than a drilling rig.” Rettberg, who authored, tested and brought to market this disruptive oil field technology, is listed as the primary inventor on the patent, which ProOne has filed to protect this technology.
Contact: ProOne, Inc. : Lawrence Kahn/CEO +1 (714) 327-0262 | Email: firstname.lastname@example.org
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