Queensland oil and gas technology group V2H Australia has appointed experienced oil and gas industry executive Doug Henderson to the position of Chief Executive Officer.
Mr Henderson replaces V2H Australia Director Darren Rice, who will focus his attention on the international growth as the Chief Executive officer of V2H International.
He joins the company after an extensive career in the oil and gas drilling industry including senior positions with Lucas Drilling Services, Scientific Drilling and WDS Limited’s Titeline Drilling division.
V2H Australia Chairman Glenn Davis said Mr Henderson’s experience in business operations, production systems and oil and gas operations made him an ideal appointment.
“As we continue our drive into the Australian market Doug’s operational experience will prove invaluable as we ramp up the business,” he said.
Mr Henderson said he was looking forward to playing a role in the development of V2H Australia over the coming years.
“This is exciting technology that is ripe for large scale commercialisation across the Australia oil and gas industry,” he said. “We have the technology, people and resources to make a real difference to a clients operations and I look forward to being part of the next phase for V2H in Australia.”
The V2H technology, developed over 20 years under a joint initiative between industry-backed Mining3 research hub and private investors, replaces traditional drilling assemblies with a high-pressure water system that can rapidly install extensive patterns of lateral radial boreholes into multiple producing reservoirs directly from a standard vertical production well.
The technology allows the laterals to be drilled from both existing and new wells, which in turn can maximise resource recovery and increase production.
For producers, the technology has the capacity to significantly lower capital and operational expenditure, increase well ultimate recoverability and lower environmental impacts. V2H could also be an enabler in some geological locations where there is currently no economic means of recovery.