Waterfront Technology Renews $1 Million Distribution Deal
Wavefront Technology Solutions Inc. has renewed its Powerwave distribution agreement with its distribution partner in Saudi Arabia for an additional one-year term ending August 2020.
Under the terms of the agreement, the distributor and Wavefront have agreed to a minimum aggregate amount of $1 million for the exclusive rights to Wavefront’s Powerwave Odyssey tool for deep matrix acid stimulation (≥24”) and to the Powerwave self-adjusting nozzle for wellbore cleaning and near wellbore stimulation (≤6”).
Wavefront will continue to provide marketing and technical support and will work with the distributor and end user to provide additional Wavefront technology for enhanced milling/drilling operations as well as new, integrated solutions to well stimulation.
Wavefront CEO Brett Davidson said the agreement represents a continuation of the company’s strategy to concentrate on single well stimulation and related services in the Middle East.