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VERETEK ACHIEVES ITS FIRST INSTALLATION IN A VISCOUS, HEAVY OIL WELL

HOUSTON – May, 2019 -- Veretek installed its first V-Pump (High Viscosity Multiphase Pump) in a high viscosity well in Long Beach Field on May 8th 2019. Greg Hottle, CEO of Veretek said “this marks a major milestone for Veretek. The V-Pump was originally developed for high viscosity wells but has proven so successful in unconventional fraced wells that the Permian and Bakken have been our main operating areas. We are excited to see this technology trial in a whole new operating environment.”

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About Veretek

Headquartered in Stafford, TX with additional locations in Midland, TX and Minot, ND, Veretek designs, engineers, sells and services the V-Pump™, a patented pump used in the production of oil and gas.  The V-Pump™ is able to handle significantly greater volumes of sand and other solids as well as gas and heavy oil because it uses a physically different hydraulic mechanism than centrifugal ESPs or any other pumping system.  Veretek has successfully completed more than 150 V-Pump™ installations throughout the US, Canada and Colombia.  For more information about Veretek, visit www.veretek.com