Innervision Wellbore Technologies
Innervision Wellbore Technologies
Emerging Company Spotlight
Quick Hits: Innervision Wellbore Technologies
Innervision is a private, Calgary-based subsurface tool company using medical-grade ultrasound 3D imaging to provide high resolution three-dimensional imaging from inside well casing through to the formation.
Innervision is in Top 5 Finalists in Start-up TNT Clean Tech Investment Summit (decision night March 23, 2023).
Multiple applications for well integrity auditing, including new oil and gas wells, geothermal, carbon sequestration and offshore.
Regulatory environment are demanding solutions for methane leak detection. Current solutions incapable of identifying failure mechanisms responsible for methane leaks, particularly behind pipe, where current imaging is not available.
Industry funded commercial trial with C-FER slated for later this year to test the tool’s ability to image multiple internal and external failure mechanisms.
Over $1.3 mm in non-dilutive grants already approved. Proceeds be used to build latest version of tool for CFER testing and subsequent commercial field application.
Multiple IP and patents pending.
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The Tool
Innervision is a downhole tool that uses medical grade ultrasound imaging to provide detailed information regarding wellbore integrity. Innervision’s offering stands out from incumbent technologies in its ability to see not only casing internally, but at various depths through casing and into the formation. The resolution is high allowing for casing thread inspection, detecting behind pipe channels and small fractures within cement. This allows operators to make informed decisions on:
Wellbore integrity audits: ensuring proper containment of all reservoir fluids (from surface to bottom hole)
Precise leak detection allowing operators to permanently seal methane leaks that originate below surface
Anticipating costly casing failures (particularly in thermal applications)
Optimizing hydraulic fracture placement and design (member of the Perforation Erosion consortium - PEER)
The Opportunity
The driver for adoption of this type of technology is many-fold:
Giving well operators confidence that their below ground level infrastructure is properly containing all fluids and preventing potential surface releases.
Detecting micro corrosion in steel that is below surface to prevent costly failures
Growing regulation surrounding methane emissions aimed at reducing / eliminating leaks from wells (thus improving ESG scores). In the US, the inflation reduction act (IRA) has prioritized methane leak detection and repair despite there not being any current offerings that can accurately pinpoint where leaks originate.
Industry Support
The Canadian Oilsands Innovation Alliance (COSIA) has already indicated they are interested in using the tool once it is completed. The COSIA group are funding a commercial trial through C-FER to test six different casing sections with a number of defects in both the casing and cement. With COSIA’s strong support, the initial focus will be to build a beachhead in the heavy oil plays (cold and thermal) around Lloydminster. The COSIA members have estimated approximately 3,000 wells annually (abandonments, leak repairs, casing inspection, well integrity checks) in the Cold Lake area will require a tool with Innervision’s capabilities.
Innervision has also been invited to join the Perforation Erosion (PEER) Consortium. The goal of this organization is to provide a knowledge sharing platform to optimize horizontal multi-frac completion design in shale and tight oil/gas reservoirs.
Positive Momentum in 2023
With solid industry backing and recent success at start-up pitch competitions, Innervision is garnering significant interest in the Alberta tech space. Key catalysts to watch will be final version on the latest iteration of the company’s tool, followed by independent testing and verification later this year.
As part of our Emerging Companies series, we will keep readers informed as the company progresses with its business plan.
Contact 4Front for more information:
Want more information on Innervision? Reach out to the 4Front team at info@4frontadvisory.com.