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Probe Appoints Industry-Veteran Trey Clark as President and CEO

Probe Appoints Industry-Veteran Trey Clark as President and CEO
Trey Clark newly-named President and CEO of Probe.

FORT WORTH, TEXAS, March 22, 2023 – Probe Technologies Holdings, Inc. (“Probe” or the “Company”), a leading supplier of logging and reservoir monitoring technology to the global oil, natural gas, and geothermal industries, announced today the appointment of Mr. Trey Clark as President and CEO of the Company to lead its future growth and expansion. Clark brings 25 years of experience growing and transforming multi-national, technology-focused businesses in the global energy industry.

Most recently, Clark served as Vice President – Wireline and Perforating for Halliburton, a role he assumed when he joined in 2017. Prior thereto, Clark spent approximately 20 years working for Baker Hughes in a variety of executive roles and as a corporate officer. Mr. Federico Casavantes, who has served as President and CEO since Probe was recapitalized by Turnbridge Capital in 2017, will remain actively involved in the newly-created role of Vice Chairman.

Clark stated, “I am very excited to join the Probe team and lead our strategic growth objectives. Our customers in the energy industry are facing a unique challenge: their demand for technologies that optimize production is on the rise, while at the same time, they continue adapting to an environment of constrained capital. Probe has an important role to play, supplying our customers with the technologies they need, when they need them, to optimize their costs of asset ownership while minimizing their environmental footprint.”

Speaking further regarding Probe’s history and its future, Clark added, “I have known Probe since it was formed by industry leaders in the 1990s, and in recent years I have been a customer of the Company. I have witnessed Probe’s innovation, the expansion of the product portfolio, and the longevity of many of the product lines. I am honored to have the opportunity to accelerate the growth already underway at the Company as we serve the needs of our expanding global customer base.”

Casavantes commented, “On behalf of all of Probe’s internal and external stakeholders, we are very pleased to welcome Trey as our President and CEO.  Many of us have known Trey for much of his career. He is a proven leader with demonstrated success in our industry, making him ideally suited to increase collaboration with our customers and execute our growth strategy. I am proud of Probe’s accomplishments to date and energized about what can be achieved in the future. Under Trey’s leadership and the ongoing support of our capital partners at Turnbridge, I believe Probe’s future is brighter than ever before in its history, and I look forward to remaining active and supportive in my new role.”

 

About Probe

Headquartered in Fort Worth, Texas, Probe is widely recognized as an industry leader in cased hole well logging and advanced monitoring technology.  Probe designs, manufactures, markets, and supports a wide range of tools and systems that provide critical well data for cased-hole formation evaluation, reservoir monitoring, production profiling, and well integrity management that are fit for purpose: accurate, reliable, and robust. Oilfield service companies, IOCs, NOCs, and geothermal companies around the world trust and rely upon Probe to deliver equipment that leads to optimization of their assets.  For more information on Probe, please visit www.probe1.com .

About Turnbridge Capital

Turnbridge Capital is a private equity firm targeting investments in middle-market companies that provide value-added operational and sustainability solutions to global participants in the energy, infrastructure, and industrial end markets. For more information on Turnbridge, please visit www.turnbridgecapital.com .

Field-proven Electro-hydraulic Setting Tool Serves Well Intervention & Abandonment Operations

ABERDEEN, Scotland – The iSet™ Electro-hydraulic Setting Tool uses touchscreen technology to provide a safe, reliable way to set bridge plugs, packers, gauge hangers and straddles downhole.

When managing well intervention and abandonment operations, safety and reliability are top priorities, particularly when setting devices downhole.  Traditionally, this involves using explosive setting charges or hydrostatic pressure-activated devices. To perform in shallower wells hydrostatic assisted devices frequently require pressurized nitrogen modules to reach the requisite setting forces. Re-setting the tool between runs poses serious safety issues, as well as being time-consuming and costly.

But there’s good news. Probe has developed setting tool technology that resolves these issues, dramatically minimizing risks and costs, and improving efficiency. 

When Probe introduced the iSet™ electro-hydraulic setting tool in 2015, it rapidly became the industry’s favored non-explosive setting tool. By removing the need to use explosives, it is not only much safer and less complicated, users do not have to obtain special use or transport permits, saving time and money.

iSet™ Electro-hydraulic Setting Tool

The global market responds

Since entering the market five years ago, the iSet continues to perform reliably, whether being used to set bridge plugs, gauge hangers, and other downhole devices.

“We’ve deployed nearly 90 iSet™ tools for use in well intervention and abandonment operations around the world, with many customers using the tool repeatedly. The highest concentration is in the Middle East and Asia, followed by Europe, Latin America, Africa and China,” said Mike Rennie, Region Sales Manager – ESSA for Probe.  “Given concerns for safety in a hazardous area, we’re witnessing a trend among users to run jobs offline from a rig in Memory mode on slickline.”

The iSet™ is not only safer, it can be run up to 50 times without redressing between runs. Coupled with the fact that after the tool reaches the surface, it can be re-set very quickly and re-run in a matter of minutes, it is cost effective and efficient.

The iSet offers an alternative to explosive and hydrostatic pressure setting tools with benefits unique to its electro-mechanical design:

  • Runs on e-line or slickline and performs in pressures as high as 15,000 psi and temperatures to 150oC. 
  • Generates requisite setting force, which is critical when working in a lower pressure well.
  • The combination of Cyclops Touch touchscreen technology with alkaline battery power in memory mode and the tool’s rapid reset feature means that technicians can learn to run it in just half an hour.
  • Diagnostic parameters are recorded, including setting force, 3-axis acceleration, pressure, temperature, displacement, battery voltage, and motor current.  Armed with this data, the operator has a complete picture of the setting cycle, which confirms whether the downhole device is properly set.    

Memory and Surface Read-out Modes Offer Flexibility, Safety

When operating the iSet™ Electro-hydraulic Setting Tool, there are two options: Memory or Surface Read-out Mode. When in Memory mode, the system relies upon the Cyclops Touch, a touchscreen interface that provides two-way communication, making it possible to easily program and confirm the iSet’s setting in the well without disassembling it or a computer. This is a distinct advantage, especially when operating in potentially dangerous conditions.

Two sizes equally popular

Each of the two sizes – 3.6 inch and 2.165 inch O.D. – have proven to be equally popular, with operators using them in both well intervention and abandonment operations. The larger size provides a setting force capability of 60,000 lbs, while the smaller tool achieves 30,000 lbs, each over a 10-in. stroke.  To provide flexibility, it can operate on two different power sources.  When slickline-deployed in Memory mode, AA alkaline batteries drive the tool, while a panel at surface powers the iSet when used on e-line in surface readout mode.

For more information contact us or look for the iSet™ on display at OTC and ADIPEC in 2021.

Probe CEO Response Regarding COVID-19

Federico Casavantes, CEO

FORT WORTH, Texas – The full impact and implications of COVID-19 are still unknown. In the meantime, at Probe, we are committed to the safety and well-being of our team, their families, and the communities where we live and work. We genuinely believe that the actions we are taking will ultimately result in the most favorable outcome for everyone that works with us.

We are living through some of the most dynamic times in recent history. Things are changing daily, but we are proactively implementing social distancing practices per World Health Organization (WHO) COVID-19 guidelines at all our facilities. We are encouraging virtual interactions amongst our team, as well as with clients and vendors, whenever possible. If a person-to-person meeting is critical, limiting participants and maintaining a distance of 6 ft between each other is recommended.

International and domestic travel for Probe employees will be restricted. Although, for the most part, we are not shifting to telecommuting (work from home), we will remain flexible to accommodate individual requirements and local authority directives.

Our overall objective is to reduce the net COVID-19 exposure for all Probe employees, clients, and vendors. We wish to provide you with the assurance that we will strive to maintain the highest possible standard of service during these difficult times and will work with you to limit any disruption to your operations. Please do not hesitate to reach out to me if you have any questions or concerns.

Sincerely,

Federico Casavantes
President & CEO

Solving Industry Challenges Drives Probe to Innovate and Improve Logging Technologies

New cost-effective solutions provide increased reliability, faster sampling rates and more accurate data

Probe's ProMac 40 under a calibration testing
Probe’s ProMac 40 under calibration testing.

During the past six months, Probe has introduced new patented sensors and tools that dramatically improve data logging efficiency and accuracy. 

“We are absolutely driven by market demand for faster, more cost-effective solutions to log accurate data, so we set out to deliver that by innovating traditional logging technologies,” said Federico Casavantes, CEO of Probe. “For example, our new ProMAC™ Series of multi-arm caliper tools are fully combinable with all Probe HD Platform tools, and operate in Surface Readout or Memory modes. There are multiple improvements that increase reliability, maintainability and accuracy. One such improvement, for example, is that the tool’s sensors’ outstanding linearity and stability has allowed us to reduce calibration time to half a day. Consequently, our customers are able to increase asset utilization by minimizing downtime. It also means that electronics and sensors aren’t exposed to high temperatures more than absolutely necessary, reducing the risk of tool failure due to temperature fatigue.”

MAC24™:  New Technology Showcase 2019 Winner

Just last month, the MAC24™, which is the first in the ProMAC Series, was selected as a winner in the New Technology Showcase at LAGCOE 2019 in Louisiana.  The new MAC24 incorporates innovations in metrology and manufacturing, greatly improving log data quality, accuracy and reliability when logging tubing and casing mineral deposition, corrosion, wear and mechanical deformation.  Relying upon a modular constant current sensor design that Probe developed specifically for the ProMAC Series, the tool provides high-stability and accuracy over its full operating temperature range up to 175°C.

The MAC24 calibration process has also been dramatically reduced from days to a few hours. 

Designed with the utmost attention to measurement quality, the tool has been proven through extensive engineering and field-testing. At recommended logging speeds of 30 ft per minute (9 meters per minute), MAC24 meets industry standards with a vertical resolution of 0.12” (3mm). Considering future super high-resolution requirements, the tool will also be capable of sampling at up to 100 frames per second achieving a vertical resolution of 0.06” (1.5mm) at current industry-accepted logging speeds.

First XY caliper for geothermal well operations

In September, Probe introduced the UHT Dimension™ XY Caliper, the first XY Caliper Tool designed to operate in ultra-high temperature environments.  The tool, which builds upon the Kuster® geothermal logging tool portfolio, performs in hostile environments up to 325°C (617°F) and provides two continuous independent perpendicular measurements (X and Y) of the internal diameter of the casing.  It also generates a high-resolution temperature profile of the well via an external fast-response resistance temperature detector (RTD).  It is the first caliper tool available to log in ultra-high temperature environments, such as those typically encountered in geothermal well operations.

Assessing well conditions increases efficiency of costly plug & abandonment operations

In other development news, Probe is hard at work on its Multi-String Isolation Logging (MSIL) tool, which offers a unique and cost-effective solution for assessing the isolation behind casing without pulling production tubing from the well.  The aim is to provide operators with a ground-breaking technology to evaluate and determine cement bond quality and isolation without pulling the completion, thus greatly increasing the efficiencies and lowering the cost of plug and abandonment operations. By collaborating with a major operator, the tool is progressing on schedule, and has performed successfully in rigorous field trials in the North Sea. Probe plans to continue to collaborate further during 2020 with E&P operators in an extended field trial phase in order to fully prove the technology before going to market.

 

Probe releases the Multi-String Isolation Logging tool: A Cost-Effective Solution for Plug and Abandonment

MSIL: New Tech Spotlight
Jun Zhang, Chief Scientist at Probe, presents MSIL new technology to the Society of Petroleum Engineers ICOTA awards.

For years, the oil and gas industry has looked for a way to assess the isolation between geological intervals without pulling production tubing from the well. Until now, no technology could evaluate and determine cement bond quality and isolation without costly and time-intensive plug and abandonment processes. On May 14, 2019, two members from the Probe team, Jun Zhang and Pouya Mahbod, along with Conoco Phillips’ Randall Shafer, Dan Mueller, and Callum Anderson, introduced the innovative Multi-string Isolation Log (MSIL) at the Society of Petroleum Engineer’s Conference in Bergen, Norway.

Methodology

The MSIL solution introduces a novel methodology and associated logging apparatus to the industry, providing an innovative technology for multi-layer cement bond quality and isolation evaluation. Unlike conventional cement bond logs and ultrasonic imaging logs which require prior removal of production tubing from the wells, MSIL technology evaluates the isolation behind the casing without the need to pull tubing.

Following extensive pre-commercial testing, more than six field trials have been successfully conducted offshore in the southern sector of the North Sea. Side-by-side comparison of conventional independent third party CBLs after production tubing was removed from the well, which also included ultrasonic logs, confirmed and verified MSIL results. These trials demonstrated the applicability of MSIL technology to all typical casing and tubing weight and size combinations.

Accurate Assessment

The accurate assessment of cement bond and isolation conditions in multi-layered configurations not only reduces unnecessary costs, but significantly simplifies the traditional P&A process altogether. While many P&A operations can run as high as $500,000 per day, MSIL technology drastically reduces overall expenditure and ensures the most efficient operation process. It also paves the way in innovation for a wider range of rigless P&A solutions.

A publication about the new MISL technology can be found on the Society of Petroleum Engineers’ OnePetro website by clicking here.

Going the Distance for Charity

Fort Worth Probe Employee looking to raise $19,000 for North Texas Cancer Center by climbing Tanzania’s Mount Kilimanjaro

In 2018 an estimated 1,735,350 new cases of cancer were diagnosed in the United States alone according to the National Cancer Institute at the National Institutes of Health. Coping with this diagnosis not only affects the patient, but also the spouse, partner, children, family and friends. That is why organizations like the Cancer Support Community North Texas are vital to those afflicted as well as survivors and their family and friends.

Cancer Support Community North Texas has three established clubhouses in Dallas, Collin and Tarrant counties where communities of those with cancer and their family and friends learn to live with cancer and beyond. The center describes its services as a “lifeline to strength, hope, support and guidance.”

Recently, Nabil Shayya, Petrophysics Manager at Probe, joined the Young Leadership Board of the Cancer Support Community North Texas. “As you might imagine, positive psychological support is a major factor in the fight against cancer,” Shayya said. “This disease cannot be avoided, and is not only devastating to the patient, it frequently causes emotional and financial havoc to the entire family. I hold this cause dear to my heart and I want to do as much as I can to help fight it.”

To achieve his objective, Shayya has pledged to climb the 19,341-foot Mount Kilimanjaro in Tanzania, the highest peak in Africa and fourth highest in the world. “My goal is to raise $19,341, a dollar for every foot that I plan to tackle,” he states. “Every contribution, no matter how small, will be of immeasurable value. One-hundred percent will to go to the CSCNT to benefit families in need, so that they can keep supporting their loved ones in their plight.”

In the spirit of Probe’s commitment of giving back to our communities, the Company has also pledged to Nabil’s quest by offering to match dollar-for-dollar every contribution that he collects from our employee base and is also offering to publish his story to garner as much support as he can through our website and social media channels. “Probe is conformed by a very talented group of employees that give their all to develop, manufacture and support advanced technology for oilfield service companies,” said Federico Casavantes, CEO. “We are particularly pleased that Nabil has undertaken such a worthy cause and wish to encourage, not only the Probe team, but our entire community to reach out to help him succeed.”

If you would like to pledge to Shayya’s goal, a GoFundMe page has been established. To learn more about Cancer Support Community North Texas you can visit www.cancersupporttexas.org