Luna Partners to Develop New Oil and Gas Production Monitoring Service
06 Outubro 2021 - 9:30AM
Business Wire
OptaSense Products Deliver Clearer Picture
of the Reservoir with Fiber-Optic
Luna Innovations (NASDAQ: LUNA), a global leader in advanced
optical technology, today announced a new production profiling
capability based on Luna’s OptaSense fiber optic sensing products.
The new capability is a result of the joint development and
licensing of ConocoPhillips’ patented transient analysis technology
in combination with Luna’s high-sensitivity, distributed
temperature measurements.
The solution increases the accuracy of determining individual
cluster oil production in unconventional wells and can be deployed
with either permanent or temporary deployment options. This enables
the identification of features in producing wells that are not
easily detected by other temperature or acoustic sensing tools
alone. Continuous refinement of the tools and increased deployment
in the field is yielding an even clearer picture of producing
conditions in various types of reservoirs.
“We are proud of our innovative and industry-enhancing
relationship with ConocoPhillips to further expand the applications
of fiber-optic technology in the Oil & Gas business worldwide,”
said Luna’s President and CEO, Scott Graeff. “This collaboration
provides us a key reservoir profiling solution that solidifies
Luna’s position as the leader of fiber-based production monitoring
services in the oil and gas market.”
Luna’s OptaSense products deliver a variety of technologies that
provide analysis and answer products for completion and production
optimization. Collaborations with industry partners like
ConocoPhillips continue to grow not just the science but, more
importantly, the commercialization of tools that are used to assess
production in the most complex reservoirs.
About Luna
Luna Innovations (NASDAQ: LUNA) is a leader in optical
technology, committed to serving its customers with unique
capabilities in high-performance, fiber-optic-based sensing,
measurement, testing and control products for the aerospace,
transportation, infrastructure, security, process control,
communications, silicon photonics, defense, and automotive
industries, among others. Luna is organized into two business
segments, which work closely together to turn ideas into products:
Lightwave and Luna Labs. Enabling the future with fiber, Luna’s
business model is designed to accelerate the process of bringing
new and innovative technologies to market. www.lunainc.com
Forward Looking
Statements
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna’s expectations regarding accuracy and technological
capabilities and potential performance improvements, market
position and value related to its technology and/or products.
Management cautions the reader that these forward-looking
statements are only predictions and are subject to a number of both
known and unknown risks and uncertainties, and actual results,
performance, and/or achievements of Luna may differ materially from
the future results, performance, and/or achievements expressed or
implied by these forward-looking statements as a result of a number
of factors. These factors include, without limitation, changes in
market needs and technological challenges and other risks and
uncertainties set forth in Luna’s periodic reports and other
filings with the Securities and Exchange Commission (“SEC”). Such
filings are available on the SEC’s website at www.sec.gov and on
Luna’s website at www.lunainc.com. The statements made in this
release are based on information available to Luna as of the date
of this release and Luna undertakes no obligation to update any of
the forward-looking statements after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20211006005325/en/
Allison Woody Phone: 540-769-8465 Email: woodya@lunainc.com
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