Modern Wellbore Solutions has developed the world’s first Multilateral Junction Tool Assembly (MJT) and process to allow oil and natural gas companies to drill, complete, and operate multilateral wells in unconventional assets. The MJT can be applied to new and existing wellbores, and results in more efficient drainage of reservoirs, reduced environmental impacts, and curtailed capital and operating costs. By enabling multistage and multi-fracturing of several laterals from just one vertical wellbore, the technology has a 20% smaller land footprint and requires significantly less time and equipment to construct, cutting capital expenditures by more than 20%. Methane and other GHG emissions from both construction and ongoing well operation are drastically reduced. Minimized artificial lift requirements and operating time per wellbore further lowers operating costs by 10%.
The overall goal of the project is to de-risk the MJT technology so that it can be commercially deployed within Alberta and global markets. Commercialization of the technology will provide local employment through the redeployment of Alberta’s oil and gas drilling and service contractors, spur the development of our unconventional resources, and enhance the perception of Alberta globally as a leader in both clean oil and gas technologies and responsible hydrocarbon extraction.