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Press Release

JET DRILL WELL SERVICES, LLC Awarded “Most Promising Energy & Clean Technology Company” at Rice Alliance Energy & Clean Technology Venture Forum

HOUSTON – 9/25/09 – Jet Drill Well Services, LLC was named one of the most promising Energy & Clean Technology companies at the 7th Annual Rice Alliance for Technology & Entrepreneurship Energy & Clean Technology Venture Forum in Houston last week. Energy & Clean Technology companies showcased their new ventures for an audience of more than 625 attendees, including investors, venture capitalists, industry representatives, business leaders, advisors/mentors, service providers, and entrepreneurs. 

Jet Drill Well Services (JDWS) of Lake Charles, LA is commercializing its innovative and affordable Jet-Drill™ procedure, a unique green-friendly method to improve hydrocarbon recovery on many of the world’s over one million oil, gas and coalbed methane wells. Utilizing patent protected technology, the Jet-Drill™ procedure dramatically increases hydrocarbon production by creating 1” drainage tunnels that extend out laterally in the payzone—likes spokes on a wagon wheel. While the world faces significantly increasing pressures on its limited hydrocarbon supply, the U.S. Department of Energy notes that primary recovery typically only results in 10-15% recovery or original oil in place. The Jet-Drill™ procedures help dramatically improve this recovery percentage on many wells.

Mark Savage, President/CEO of Jet Drill Well Services noted, “Competing in a large crowd and against promising technologies, we were humbled to have earned this distinction. The team at Jet Drill deserves a lot of credit for all their hard work to make this happen.”

The one day event culminated in an announcement of the Most Promising Energy & Clean Technology Companies chosen from nearly 60 competitors and judged by the Rice Alliance Energy & Clean Technology Advisory Board.

Rice Alliance Director Brad Burke, announced the winners of the Most Promising Energy & Clean Technology Company awards at the event. “Every year the quality of companies improves. Many of the companies at this year’s event have developed prototypes, obtained proven results and are on their second round of funding. This makes them more appealing to investors, who have also expressed appreciation for the quality of the companies.”

The Forum was supported by Chevron Technology Ventures, Energy Ventures, Shell, Kenda Capital, Huron Consulting Group, Canada Consulate General, Winstead, Leyendecker & Associates, Hart Energy Publishing with supporting organizations Greater Houston Partnership, Houston Technology Center, and Opportunity Houston and media sponsors Houston Business Journal and the BusinessMakers Radio Show.