Kinetic Upstream Technologies Successfully Tests New Rotary Steerable Platform; Drills Vertical, Curve, and Lateral on First Well

Jennings, Oklahoma – September 2019 – SCF Ventures is pleased to announce that Kinetic Upstream Technologies recently tested the first prototype of its proprietary Kontour™ Automated Steering System at the Catoosa Drilling Test Facility, successfully drilling a one-run vertical, curve, and lateral on the first well with Serial Number 001.

Kinetic’s engineering & operations team has worked tirelessly over the last two years to design and build an industry-changing rotary steering technology. The Kontour™ automated steering platform is focused on improving reliability, accuracy, and user operability, while reducing overall well construction costs. The platform includes a field-serviceable, low-cost rotary steerable system, the DrillComm™ two-way communications sub, easy-to-use surface systems and servicing equipment, the K-Pivot™ stabilizer, and other intelligent BHA components.

The stellar first downhole run of serial number 001 kicked off from vertical, achieved doglegs above 10°/100 ft, controlled a soft landing to horizontal, and achieved doglegs below 1.5°/100ft while drilling laterally. The system drilled smoothly and tripped easily on elevators, performing without failure over the entire run.

Jeff Lasater, CEO of Kinetic Upstream Technologies, stated: “We are extremely proud of the Kinetic team, our design partners, our vendors, and supporters, who contributed to this huge accomplishment. We are excited about the future and will look to commercialize the technology in Q4 of this year.” Commenting on the fact that lightning struck the test rig at Catoosa before the successful run, the Kinetic team added: “The high performance of this novel downhole steering system, on its maiden voyage, is as rare as lightning striking twice in the same place!”

SCF Ventures is an early stage investment vehicle within SCF Partners that focuses on providing differentiated capital to emerging companies to develop new products and technologies in the energy services sector.

Learn more about Kinetic Upstream Technologies and its Kontour™ Automated Steering System at www.kineticupstream.com.