Evolution Petroleum enters to install GARP technology on ten wells Evolution Petroleum announced that it has entered into an agreement with a large independent oil and gas operator to install its patented GARP artificial lift technology on 10 of the operator's wells. All of the wells are located in the Giddings Field in central Texas, with an option to extend to additional wells. The GARP technology is marketed by NGS Technologies, a wholly owned subsidiary of Evolution Petroleum. Under the terms of the master agreement, NGS Technologies' subsidiaries will provide use of the technology, pay a portion of the installation costs and oversee the installation in return for a continuing contract fee equal to 25% of the net profits from each well for as long as the technology is utilized.
EnerCom to hold a conference The Oil & Gas Conference is being held in Denver, Colorado on August 16-20 with webcasted company presentations to begin on August 18 at 10:00 am; not all company presentations may be webcasted. Webcast Link