Gasfrac has a proprietary fracturing method using liquid propane instead of water. The propane eliminates the need for fresh water and the post frac recovery and treatment of the water. After fracking, the propane is recovered along with the ngas and sold. There is minimal wait after completion versus the 2 to 4 week cleanup period for waterbased fracking. In addition, Gasfrac claims higher IP for their method. This combination of higher IP, quicker production and less liability danger from water contamination leads GFS to claim that their process pays for itself. The initial cash payment for their services is higher than water based fracking.
The concerns of environmentalists in the US are outlined in this NYTimes article.
http://www.nytimes.com/2011/02/27/us/27gas.html?_r=1
Gasfrac is going to make an attempt to penetrate the US gas drilling market based on increased equipment capacity. Husky Energy is apparently very happy and wants them to do every possible well for them but Gasfrac wants to diversify their customer base so they will market the method into the Marcellus and other gas basins.
http://www.gasfrac.com/
Gasfrac GFS.v/GSFVF.pk C$12.99
Re: Gasfrac GFS.v/GSFVF.pk C$12.99
I own some based upon the discussion in Value Forum.....could be a nice winner....getting a lot of press recently.
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Bobwins
Re: Gasfrac GFS.v/GSFVF.pk C$12.99
Gasfrac is apparently pitching their frac approach to area residents in upstate New York that are opposed to water based fracking. Here is an invite to a meeting where Gasfrac intends to explain their position.
To: Tioga County Landowners Group
Many of you know that we have been very enthusiastic about the technology developed by a Canadian company from Calgary, Alberta. GASFRAC Energy Services Inc's. has a proprietary LPG (Liquefied Petroleum Gas) fracturing process which utilizes gelled LPG in place of conventional fracturing fluids. The unique properties of the LPG fracturing process result in significant savings on material expenses and fracture clean up, as well as increased well productivity. Over the past several years they have become publicly traded and have fraced hundreds of wells. This is an important meeting to hear from the company there story. Sorry for the short notice but I was in Albany meeting with legislators and the DEC for the past two days.
Topic: HYDRAULIC FRACKING WITH PROPANE
Speaker: Robert Lestz
Program Chairman: Arthur L. Ruoff, Larry Cathles
Sponsored by Department of Earth and Atmospheric Sciences
1) Robert Lestz is the inventor of a fracking technique which does not use water, thus eliminating the possible problems with hydrofracking. He is also the chief engineer of the company which makes the systems.
2) Successfully used in 700 wells in Canada.
3) Additives to propane are patented, openly published, and they are approved by OSHA.
4) There is no (or negligible) flaring.
5) There are no settling ponds.
6) 95% of the propane, along with the natural gas, is in a single gaseous phase with natural gas and comes up along with some sand and additives. These are separated. The propane is used for the next well. The natural gas goes to the pipeline.
7) For a 6-well platform, only seven loaded trucks are used to bring in the propane compared to about 30 trucks in and nearly 30 out with water.
TIME: Wednesday, March 2, 2011 at 7:30pm
PLACE: Kulp Auditorium, Ithaca High School
To: Tioga County Landowners Group
Many of you know that we have been very enthusiastic about the technology developed by a Canadian company from Calgary, Alberta. GASFRAC Energy Services Inc's. has a proprietary LPG (Liquefied Petroleum Gas) fracturing process which utilizes gelled LPG in place of conventional fracturing fluids. The unique properties of the LPG fracturing process result in significant savings on material expenses and fracture clean up, as well as increased well productivity. Over the past several years they have become publicly traded and have fraced hundreds of wells. This is an important meeting to hear from the company there story. Sorry for the short notice but I was in Albany meeting with legislators and the DEC for the past two days.
Topic: HYDRAULIC FRACKING WITH PROPANE
Speaker: Robert Lestz
Program Chairman: Arthur L. Ruoff, Larry Cathles
Sponsored by Department of Earth and Atmospheric Sciences
1) Robert Lestz is the inventor of a fracking technique which does not use water, thus eliminating the possible problems with hydrofracking. He is also the chief engineer of the company which makes the systems.
2) Successfully used in 700 wells in Canada.
3) Additives to propane are patented, openly published, and they are approved by OSHA.
4) There is no (or negligible) flaring.
5) There are no settling ponds.
6) 95% of the propane, along with the natural gas, is in a single gaseous phase with natural gas and comes up along with some sand and additives. These are separated. The propane is used for the next well. The natural gas goes to the pipeline.
7) For a 6-well platform, only seven loaded trucks are used to bring in the propane compared to about 30 trucks in and nearly 30 out with water.
TIME: Wednesday, March 2, 2011 at 7:30pm
PLACE: Kulp Auditorium, Ithaca High School
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Bobwins
Re: Gasfrac GFS.v/GSFVF.pk C$12.99
Gasfrac held a very positive press conference. They announced that they currently have 3 sets of equipment that generated 90million in sales for 2010. They will be up to 6 sets by April and 10 sets by December 2011. That should generate annual sales at a fwd run rate of over $300million by the end of the year. They do have a backlog and are preparing to enter the US markets when the new equipment arrives.
A replay of the call will be available until March 19, 2011 by dialing 1-800-408-3053 (North America) or 1-905-694-9451 (outside North America). Playback passcode: 7636633.
A replay of the call will be available until March 19, 2011 by dialing 1-800-408-3053 (North America) or 1-905-694-9451 (outside North America). Playback passcode: 7636633.