|By PR Newswire||
|January 8, 2013 10:07 PM EST||
HOUSTON, Jan. 9, 2013 /PRNewswire/ -- eCORP Stimulation Technologies, LLC ("ecorpStim"), a wholly owned subsidiary of eCORP International, LLC ("eCORP"), announced today the successful field demonstration during which it safely stimulated the Eagle Ford Shale at 5950 feet with a fluid other than water. This field demonstration is part of ecorpStim's ongoing efforts to advance the development of shale gas in a sustainable manner and with minimal environmental impact.
The test completed in late December was conducted in Frio County, Texas, southwest of Pearsall, Texas. The only fluid used to initiate the Eagle Ford stimulation was pure liquid propane. The test differed from past water or propane gel stimulations because no chemicals or additives of any kind were used. Propane is the same fuel which is used by the general public for cooking, heating and for other home uses.
eCORP's Vice President of International Operations, Dr. Johnny Kopecky, commented, "This represents ecorpStim's first step in demonstrating that there are non-aqueous alternatives to stimulating a shale reservoir. By utilizing propane, a fluid that originates in oil and gas reservoirs, we are minimizing damage in the reservoir while eliminating the need for any water usage and handling of water waste streams."
The field demonstration also included a range of monitoring and data acquisition techniques to provide a comprehensive evaluation of the trial. These additional methods included use of an observation well for downhole microseismic, a specialized "pocket" in the tubing string of the treated well to obtain downhole pressures and temperatures during treatment, and environmental sampling of the air and noise.
Dr. John Thrash, eCORP's CEO and Chairman, stated, "We are extremely pleased with what we have confirmed with this procedure. We believe there is a certain path for sustainable shale gas development and this demonstration proves a viable "green" alternative exists for stimulating shale. We intend to extend this design philosophy and demonstrate that a total reduced impact can be achieved through other innovations in drilling and exploration technologies we are developing at eCORP."
About eCORP International, LLC – Founded in 1978, eCORP and its predecessor companies have extensive oil and gas experience including underground natural gas storage, natural gas transportation, enhanced oil recovery in conventional reservoirs using propane and butane, exploration for and production of conventional and unconventional (shale) reservoirs, electric power generation and marketing of electricity and gas. The company was an early mover in the Marcellus play in Pennsylvania and New York, USA and recognized its potential while developing its highly acclaimed Stagecoach Storage project in New York. The company has acquired a multi-million prospective acreage position internationally. The company's highly experienced management team expects to apply its broad background in hydrocarbon based development in deploying its field services fleet and related technologies in Europe, and globally, to develop its own portfolio, as well as selling its services to third parties as a standalone business unit. Stimulating with pure liquid propane with low-density proppants provides an excellent vehicle for the company to introduce an environmentally sensitive technology to allay concerns about excessive usage of fresh water and potential aquifer contamination as the process uses no water and propane is a gas at ambient pressure and temperature.
This press release contains certain statements that constitute forward-looking statements under applicable securities legislation. All statements other than statements of historical fact are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", or the negative of these terms or other comparable terminology. These statements are only as of the date of this document and we do not undertake to publicly update these forward looking statements except in accordance with applicable securities laws. Forward-looking statements are based on current expectations, estimates, projections and assumptions, which we believe are reasonable but which may prove to be incorrect and therefore such forward-looking statements should not be unduly relied upon. In addition to other factors and assumptions which may be identified in this document, assumptions have been made regarding, among other things: industry activity; the general stability of the economic and political environment; effect of market conditions on demand for the Company's products and services; the ability to obtain qualified staff, equipment and services in a timely and cost efficient manner; the ability to operate its business in a safe, efficient and effective manner; the performance and characteristics of various business segments; the effect of current plans; the timing and costs of capital expenditures; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully market its products and services. Forward-looking statements are subject to a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; the successful exploitation and integration of technology; customer acceptance of technology; success in obtaining issued patents; the potential development of competing technologies by market competitors; and availability of products, qualified personnel, manufacturing capacity and raw materials. In addition, actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth under the section entitled "Business Risks" in the Company's MD&A.
ecorpStim Technology media requests should be directed to:
Director of Commercial Operations
E-mail: [email protected]
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