From the grocery store to the gas station, the corporate boardroom to the family living room, costs are going up everywhere — and for everything.
It’s no surprise prices are also sky high on production sites. One of the biggest costs is power. Yes, producing energy takes energy, lots of it, specifically the electricity used to power electrical submersible pumps.
This may be news to some people who use energy, but not the people who produce it. Extract’s customers have been feeling the pinch on power costs, forcing them to make painful business decisions.
“Operators are seeing power costs going up, and having to pass that on to their customers,” said Mitchell Crane, Senior Vice President of Engineering for Extract.
“This is definitely an inflation issue,” said Matt Cox, Extract’s Manager for Emerging Technology Product Lines. “Ninety-nine percent of producers with marginal well bores are getting beat down by electrical consumption, affecting their ability to produce a well.”
With power costs going up, Extract is helping customers bring operating expenses down thanks to the state-of-the-art, value-boosting performance of SPEEDFREQ Max Efficiency.
SPEEDFREQ Max Efficiency delivers greater cost savings thanks to its energy-saving, compact design, which delivers a deeper draw on the well, producing more oil using less electricity — or capital.
“The overall length is much shorter and smaller in diameter,” said Cox. “Typically the shorter the motor, the less horsepower it’s going to get. Not here. This delivers 80hp at only about 2.5 feet long. The speed is what gives it the ability to be so compact. SPEEDFREQ runs at 10,000 rpm, while conventional induction runs at 3,600 rpm. That’s a huge differentiator.”
“SPEEDFREQ Max Efficiency’s incredible value comes from its speed as well as the permanent magnet motor,”said Crane. “It delivers a three-fold increase in speed, but with two-thirds less material. So, we’re seeing power savings as high as 20%. That’s a strong number for customers. Customers are finally able to control power costs.”
SPEEDFREQ Max Efficiency’s compact, innovative design delivers a huge boost in savings — and safety.
“By tripling the speed we shorten it because we don’t need as many component parts and material,” explains Crane. “We can prep that equipment in the shop, saving time by doing more things in the facility in ideal conditions. In a normal operation you might have up to 12 components. Here you have three. The speed allows for a higher horsepower density per foot. Shortening the equipment string means you have fewer lifts – about 75% fewer. Less equipment lifts mean less opportunities for accidents.”
“The compact design also lets you set it deeper in the well bore, allowing you to draw the fluid level down further,” said Cox. “By being able to set it lower in the well, you’re able to potentially get more oil. That’s an uneconomical well becoming cost-effective”.
Extract’s SPEEDFREQ MaxEfficiency has been tested by our team — and proven in the field by our customers.
One producer in the Oklahoma panhandle was suffering from particularly high electricity costs. Their goal was to lower overall power consumption, while keeping a comparable throughput on production. Not an easy ask.
After switching to SPEEDFREQ Max Efficiency, the operator achieved variable power savings of up to 10% and they’re very pleased with the results.
They’re also pleased with Extract’s service and professionalism, commending our dedication to analyzing the data to see how our equipment is performing — and what we can do to make it perform even better.
“It’s one thing to see the numbers in ‘the lab’ or our shop,” said Cox. “But to actually see it perform in the field? That hard proof is a big deal.”
“Actually listening to customers on what they need is how we’re able to stay ahead of the market,” said Crane. “It’s very rewarding seeing the team’s hard work come to fruition, and I’m looking forward to proving SPEEDFREQ further in the marketplace.”
A commitment to constant improvement and innovation, and superior customer service, are core values toExtract.
They are also the most important “components” of SPEEDFREQ Max Efficiency — and are built into every product that wears the “Extract” name.
“In the last ten years there’s been a reduction on R&D spend in our industry. We’re different,” said Crane. “We’re investing in new technologies with an eye towards safety, efficiency and the environment.”
“Nobody else out there does anything like it,” said Cox. “The last major innovation in ESP was probably abrasion-resistant bushings and upgraded power motors in the 1990s. When it comes to innovation, we’re really stepping out of the box. And it’s not just SPEEDFREQ, but a whole host of products.”
At Extract, we’re not just making products — we’re making a statement.
And despite its compact design, the SPEEDFREQ Max Efficiency is making a big statement. Namely, that operators no longer have to be beholden to crushing power costs, but can take control of their production, and their future.
Reduce operating costs. Consume less power. Drive more value from previously uneconomical wells.
Experience SPEEDFREQ Max Efficiency. Only from Extract.