FracRock International has declared that it has entered into a three year agreement with a prominent E&P operator in the Argentina-based Neuquen basin.
The agreement lays the basic terms and conditions required for negotiation and execution of a three year contract at market prices with a 5% discount and a minimum 40% utilization. Along with conventional hydraulic fracturing methods based on 30,000 HP of modern hydraulic fracturing equipment, FracRock will offer its innovative EcoFrac Solutions that are eco-friendly techniques to support operators in development of the Vaca Muerta shale play in an eco-friendly manner.
A number of production and exploration technologies are combined by EcoFrac Solutions in a way that allows considerable reduction in the use of horsepower and water while optimizing the placement and number of hydraulic fractures. Furthermore, EcoFrac Solutions will include the proprietary Geo-Predict package of FracRock, which will be followed afterward in the development cycle by its Geo-Iteration methodology.
FracRock has also joined hands with highly skilled partners that can provide a complete suite of original "green" technologies to operators in Argentina and other global markets. The Chief Executive Officer of the company, J. Christopher Boswell stated that the company is very pleased to have achieved such a major milestone. The confidence demonstrated by the customer in the company’s capabilities and experience speaks volumes about the enormous amount of oilfield technologies assimilated by the company to provide a unique offering to Argentinian customers
Source: http://www.fracrockintl.com
Disclaimer: The views expressed here are those of the author expressed in their private capacity and do not necessarily represent the views of AZoM.com Limited T/A AZoNetwork the owner and operator of this website. This disclaimer forms part of the Terms and conditions of use of this website.