GASFRAC Energy Services, Inc (TSX:GFS) is an oil and gas technology and service company headquartered in Calgary, Alberta and the sole provider of waterless gelled LPG fracturing technology in North America.
GASFRAC is pleased to announce that we have successfully completed a Hybrid LPG fracturing treatment for Terrace Energy in the Eagle Ford formation in Maverick County. Terrace recently issued a press release commenting on the results of this fracturing technology stating:
"This successful use of hydrocarbon-based fracturing fluids represents a significant advancement in the development of the Eagle Ford Shale in the "black oil" window, which is defined by low gas-oil ratios found in the northern extension of the formation. Previous attempts, by other industry participants to develop commercial production in the black oil window of the Eagle Ford Shale, were made using high volume water-based fracturing fluids. This technique has generally not been commercially successful, despite the formation's rock properties and hydrocarbon content, because the formation's shallow depth and lower reservoir pressure make it difficult to recover and unload the large volumes of water used. Testing results to date indicate excellent formation productivity and there is no evidence that water resides within the formation."
James Hill, CEO, noted "This is a significant result, further demonstrating the value of GASFRAC's Hybrid LPG and engineered fluids advancements."
He also noted the recognition of this technology as one of the top 25 technologies of the year by Time Magazine and it's nomination for an Edison Award.
