Highlands Natural Resources PLC Highlands' First DT Ultravert Patent Issued (6556I)
21 June 2017 - 4:00PM
UK Regulatory
TIDMHNR
RNS Number : 6556I
Highlands Natural Resources PLC
21 June 2017
21 June 2017
Highlands Natural Resources plc ('Highlands' or 'the
Company')
U.S. Patent Office Issues Highlands' First DT Ultravert Patent
for Parent Well Protection
Highlands, the London-listed natural resources company, is
pleased to announce the issuance of U.S. Patent 9,683,165 (the
"'165 Patent" or the "Issued Patent") related to "parent well
protection," on 20 June 2017. This grant represents the first
issued patent among Highlands' portfolio of pending patent
applications related to parent well protection and re-fracking.
Based on the review and approval process for the Issued Patent, the
Company is optimistic that additional patent applications may be
approved and issued in due course.
Highlights:
-- The Issued Patent significantly enhances the Company's
strategic marketing position as the sole provider of the patented
DT Ultravert parent well protection processes
-- Highlands is now in a position (if required) to enforce and
seek financial compensation from companies that would infringe on
the Company's patent, including oil and gas companies as well as
service providers
-- The Company continues to see parent well protection as a
growing and economically significant challenge for the shale oil
and gas industry
-- RPS' Independent Opinion Report dated 6 January 2017
evaluated DT Ultravert with a potential NPV(10) value range of
US$78 to US$135 million based on projected revenue streams
With issuance of the '165 Patent, the Company attains
significantly greater abilities to assert and enforce claims over
key components of its intellectual property underpinning parent
well protection. The '165 Patent includes broad coverage of gas
injection into parent wells as a mitigating measure against
"bashing" from fracking in nearby "child wells". The '165 Patent
also applies to the process of enhancing child wells by injecting
gasses into parent wells. These two applications, parent well
protection and child well enhancement, represent core value
propositions of DT Ultravert.
The issue of bashing and related child well underperformance is
gaining increasing attention throughout the U.S. shale oil and gas
industry. The topic has become a core challenge facing the
development of maturing shale fields, as evidenced by recent
articles such as:
-- The Journal of Petroleum Technology, "Oil and Gas Producers
Find Frac Hits in Shale Wells a Major Challenge", 7 April 2017
(https://www.spe.org/en/jpt/jpt-article-detail/?art=2819)
-- Oil and Gas Investor Magazine, "Putting The Kibosh On
Bashing", 1 February 2017
(http://www.oilandgasinvestor.com/ep-momentum-putting-kibosh-bashing-1461436#p=full)
-- Society of Petroleum Engineers International, "Parent Well
Refracturing: Economic Safety Nets", 5-6 May 2016
(https://www.onepetro.org/conference-paper/SPE-180200-MS)
For additional perspective, investors are encouraged to view
illustrative animations related to "bashing" and "parent well
protection" available at
http://highlandsnr.com/technology/dt-ultavert/.
Highlands plans to leverage the '165 Patent to accelerate
marketing efforts around DT Ultravert. Testing of DT Ultravert
commenced in September 2016 in cooperation with Laramie Energy,
Schlumberger and Calfrac. This testing has confirmed that DT
Ultravert can achieve significant and sustained down-hole pressure
that effectively diverts fluids from depleted areas of the
reservoir; that DT Ultravert can prevent well bashing; and that the
application of DT Ultravert can enhance the stimulation of child
wells and improve production performance. The Company continues to
meet with prominent oil and gas operators throughout the U.S. shale
and gas industry on a regular basis to advance discussions towards
the adoption and deployment of DT Ultravert, and the newly issued
'165 Patent could help advance the Company's efforts towards a
tipping point of market adoption.
Highlands' Chairman and CEO Robert Price said, "This is an
important milestone in the development and commercialization of DT
Ultravert, with the technology now validated as unique and
proprietary. Highlands' strategic, marketing and intellectual
property enforcement options significantly widen as a result of the
issuance of our first patent. Whereas previous marketing efforts
relied on the strength of Highlands' process design and operational
acumen to deploy DT Ultravert, the Company is strengthened with the
tangible power of a first enforceable issued patent. This adds an
important ingredient to the DT Ultravert value proposition, and one
that cannot be easily circumvented by competition as the market
demand for parent well protection solutions grows.
"Moreover, we are currently working with the U.S. Patent office,
as well as Patent Offices in other countries, to advance additional
patent applications through each country's patent examination
process. Based on our experience and learnings from the first
patent review process, as well as feedback from legal counsel, my
optimism has only increased regarding the Company's ability to
secure additional patents in due course. This would only further
strengthen our legal protections around DT Ultravert."
THIS RELEASE CONTAINS INSIDE INFORMATION.
**ENDS**
For further information, please visit www.highlandsnr.com, or
contact:
Highlands Natural +1 (0) 303 322
Robert Price Resources plc 1066
Cenkos Securities +44 (0) 131 220
Nick Tulloch plc 9772
+44 (0) 131 220
9771 /
Cenkos Securities +44 (0) 207 397
Neil McDonald plc 1953
St Brides Partners +44 (0) 20 7236
Lottie Brocklehurst Ltd 1177
St Brides Partners +44 (0) 20 7236
Sean Davies Ltd 1177
Notes to Editors
Highlands (LSE: HNR.L) is a London-listed natural resources
company with a portfolio of high-potential oil, gas and helium
assets and technologies. The company's core projects include:
-- East Denver Niobrara: a farm-in opportunity for horizontal
oil and gas wells targeting the Niobrara shale formation in a
well-studied area of the Denver Julesburg Basin.
-- DT Ultravert: a re-fracking and parent well protection
technology with 20 patents pending in the United States and
internationally. Highlands is advancing commercial conversations
with a range of oil and gas operators to create revenue-sharing
opportunities for DT Ultravert applications.
-- Helios Two: a 105,000+ acre helium and natural gas prospect
in SE Montana with drilling and assessment operations ongoing.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCSESFMSFWSELM
(END) Dow Jones Newswires
June 21, 2017 02:00 ET (06:00 GMT)
Chill Brands (LSE:CHLL)
Historical Stock Chart
From Apr 2024 to May 2024
Chill Brands (LSE:CHLL)
Historical Stock Chart
From May 2023 to May 2024