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Friday, September 18, 2015

GasFrac Waterless Fracking Gets Shelved by New Owner

We have in the past posted several articles about GasFrac, a company which offered waterless fracking technology.  The method was tested in the Utica shale, but not long after that the company filed for bankruptcy.  Now there is a new company which has purchased GasFrac's assets, and they are not looking to pursue opportunities to use the waterless fracking technology.

From Columbus Business First:
Waterless fracking technology recently tested in eastern Ohio is dead – for now. 
The propane concoction designed and tested by GasFrac Energy Services Inc. in the Utica shale is not being pursued by the new owners. 
"The technology piece, the propane fracking, I like it," Step Energy Services CEO Regan Davis told Alberta Oil Magazine. "I think it’s a technology that has a place in the market. But for our purposes, we decided that we weren’t going to be in that business, so we mothballed that whole segment." 
STEP Energy acquired GasFrac's assets in March. Both companies were based in Calgary, in Alberta, Canada.
Read that whole article by clicking here.

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