Texaco Press Release - Texaco Receives Hearst Newspapers Energy Award for Technology
FOR RELEASE: MONDAY, APRIL 20, 1998.
HOUSTON, April 20 - Texaco has been awarded the Midland Reporter Telegram-Hearst Newspapers Energy Award for Technology for the company's successful initiation and development of the Dual Action Pumping System (DAPS). The award was presented to Texaco at a ceremony during the Executive Oil Conference held in Midland on April 16.
In accepting the award, Dr. Ronald J. Robinson, President of Texaco's Technology Division, said, "Texaco is honored to be the recipient of this distinguished award. Technological achievements such as the Dual Action Pumping System continue to further Texaco's vision to be a dynamic, growing, financially successful energy company, driven by technology.
"The DAPS technology proves to have tremendous economic impact on mature oil production," added Robinson.
DAPS, developed by a team of Texaco engineers and scientists, enables oil producers to protect the environment by managing excessive water production while saving millions of dollars in treating and disposal costs. The system allows produced water to be separated and disposed of down hole by lifting oil on the upstroke of the pump and injecting water on the downstroke.
The Midland Reporter Telegram-Hearst Newspapers Energy Awards were established in 1996 to recognize the significant achievements and contributions of the oil and gas industry. "The Midland Reporter Telegram and Hearst Newspapers take great pride in recognizing excellence in the oil and gas industry," said Charles Spence, publisher of the Midland Reporter Telegram. "Hearst Newspapers has some very strong assets right in the middle of the oil patch.
"Not only do we feel a strong obligation to report oil and gas news and communicate the story of the oil and gas industry, we feel an obligation to recognize the contributions made by the individuals and companies who contribute to the well-being of the Permian Basin, State of Texas and the nation."
Geophysical Services, Inc. was the winner of the 1997 Energy Award for Technology for its development of 3D Seismic.
Updated: April 1998