Renegade Services’ RigLock technology drives growth and profitability in two ways – significantly decreasing the time between frac and wireline well swaps which results in stage increase per day and removing personnel from the red zone danger risk that comes with taking off and replacing the nightcap and lubricator assembly, 40 + feet in the air. —
Renegade Services is the world’s leading RigLock service provider resulting in record gains of 3-4 stages/day with as low as 15 minutes between well swaps.
A 2018 oilfield industry analysts praised widespread RigLock pressure control equipment implementation for its potential to increase field-level efficiencies resulting in significantly increased profit for oil investment firms.
Renegade Service’s RigLock stats as of July 2018:
Used in major shale plays for 2 years, since mid-2016.
116,898 + operating hours
EVERCORE ISI Industry-wide Sample Results:
Generates 1+ stage per day.
Saves 20-30 mins/stage
Annualized EBITA spread increase $4-5 Million
Renegade Services Results:
Generates 3+ stage per day.
Saves 30-45 mins/stage
After being field tested for more than 2 years with Renegade Services clocking 100,000+ operating hours on more than 45 units, investment firms, E&P companies, and wireline professionals alike are consistently realizing the significance of adding an extra stage. The efficiency gains the Renegade team has been able to produce since the widespread implementation supports Evercore ISI Energy’s assumption about RigLock potential.
RigLock use has substantially increased in the Permian and other NAM shale plays in the last several months as pressure pumpers continue to report significant ROI in efficiency gains with RigLock despite the highly commoditized stigma of the current market. Renegade is the leading supplier of RigLock packages across the Marcellus and the Permian.
RigLock gains are definitely influenced by the level of service providers’ efficiency, and Renegade Services provides the expertise needed to maximize RigLock efficiency gains. Gaining 1 stage per day with RigLock can result in a 13% increase in EBITA and a potential annualized EBITA spread increase of $4 – 5 Million. Contact a RigLock specialist today for more information at (806) 897-0735 or by visiting https://renegadewls.com/
Release ID: 430186