Luna partners to develop new oil and gas production monitoring service

Date Announced: 12 Oct 2021

Roanoke, VA, USA -- Luna Innovations (NASDAQ: LUNA), a developer of advanced optical technology, has announced a new production profiling capability based on Luna’s OptaSense fiber optic sensing products. The new capability is a result of the joint development and licensing of ConocoPhillips’ patented transient analysis technology in combination with Luna’s high-sensitivity, distributed temperature measurements.

The solution increases the accuracy of determining individual cluster oil production in unconventional wells and can be deployed with either permanent or temporary deployment options. This enables the identification of features in producing wells that are not easily detected by other temperature or acoustic sensing tools alone. Continuous refinement of the tools and increased deployment in the field is yielding an even clearer picture of producing conditions in various types of reservoirs.

“We are proud of our innovative and industry-enhancing relationship with ConocoPhillips to further expand the applications of fiber-optic technology in the Oil & Gas business worldwide,” said Luna’s President and CEO, Scott Graeff. “This collaboration provides us a key reservoir profiling solution that solidifies Luna’s position as the leader of fiber-based production monitoring services in the oil and gas market.” 

Luna’s OptaSense products deliver a variety of technologies that provide analysis and answer products for completion and production optimization. Collaborations with industry partners like ConocoPhillips continue to grow not just the science but, more importantly, the commercialization of tools that are used to assess production in the most complex reservoirs. 

About Luna

Luna Innovations (NASDAQ: LUNA) is a leader in optical technology, committed to serving its customers with unique capabilities in high-performance, fiber-optic-based sensing, measurement, testing and control products for the aerospace, transportation, infrastructure, security, process control, communications, silicon photonics, defense, and automotive industries, among others.

The company is organized into two business segments, which work closely together to turn ideas into products: Lightwave and Luna Labs. Enabling the future with fiber, Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.  

Contact

E-mail: solutions@lunainc.com

Web Site: www.lunainc.com