VentMeter Technologies Inc. Jointly Launched by Doull Site Assessments Ltd. and Hifi
New standalone business entity to pursue well integrity market growth and international opportunities
CALGARY, ALBERTA--(May 19, 2015) - Doull Site Assessments Ltd. ("DSA"), a leader and innovator in testing and monitoring of gas migration and well integrity, and Hifi Engineering Inc. ("Hifi"), a developer of leading edge fiber optic sensing technologies used to monitor gas and fluid flow in pipelines and oil and gas wells, today announced the creation of a new jointly owned business entity named VentMeter Technologies Inc.
VentMeter™ is an industry leading technology inclusive of a remotely operated device capable of detecting pressure build ups and low flow rates in real time in gas wells. The field devices are accessed via the web to manage data against reference baselines of surface casings with high precision. The technology is currently being used for many purposes, including monitoring and development of remedial strategies of major industry operators, regulators and service companies. DSA and Hifi previously operated under a revenue sharing business model for the VentMeter technology.
"We are very excited about the official launch of VentMeter Technologies", said Ryan Doull, DSA’s Vice President of Technology. "VentMeter customers will continue to receive the best customer support, as well as the new technical enhancements VentMeter Technologies will bring to both domestic and international markets."
"We have made a tremendous investment to develop the best technology available in the market", said Steven Koles, Hifi’s President & CEO. "The new VentMeter Technologies entity will provide the appropriate focus to ensure the intellectual property we’ve developed will be best leveraged by our customers."
Doull Site Assessments Ltd. provides many services, with the assistance of various technical partners, to clients in the energy and environmental sectors. These include gas migration testing / monitoring / sampling, surface casing testing / monitoring / sampling, VentMeter™ services, urban well testing / monitoring / sampling, oil sands well integrity testing, and wellbore fluid level surveys. For more information, visit www.doullsite.com.
Vice President, Technology
Hifi is a privately held Canadian company, with minority ownership from Enbridge and Cenovus, specializing in the research, development and operation of leading edge fiber optic sensing technologies primarily used to monitor gas and fluid flow in pipelines and oil and gas wells. Headquartered in Calgary, Alberta, Hifi currently has a number of commercialized products, including its HDS™ MiCro tool offering for downhole flow applications. With over 1,000 wells logged, the MiCro tool has been proven to assist in pinpointing casing leaks. Hifi is currently focusing its research to adapt its existing fiber optic technology to find low rate leaks in energy transportation pipelines and horizontal operating wells. The VentMeter technology will also continue to be used as part of Hifi’s insitu leak verification system for preventative pipeline leak detection. For more information, visit www.hifieng.com.
President & CEO
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