RocketFrac Cleantech Announces Successful Deployment of EcoStim™ Waterless Well Stimulation Technology in Western Canada

CALGARY, AB, June 22, 2022 /PRNewswire/ - RocketFrac Cleantech ("RocketFrac" or "the Company"), an innovative energy services company, is pleased to announce that it has successfully deployed its ground-breaking EcoStim™ waterless well stimulation tool in Alberta, Canada. This deployment represents the addition of a valuable new approach to oil and gas well stimulation that expands the exploitation strategies available to producers while reducing carbon emissions, eliminating the use of proppant sand and scarce water resources.

In the United States alone annual water consumption for hydraulic fracking is estimated to be 140 billion gallons – equal to the combined annual consumption of Houston and Chicago. Creating effective well stimulation that eliminates this enormous strain on our precious natural resources is critical for meeting the Environmental, Social, and Governance (ESG) goals prioritized by the investment community. This in turn eliminates the barrier of environmental concerns from the development of energy resources, allowing the expansion of production and movement toward the goal of energy independence.

The EcoStim™ deployment was the reactivation of a suspended natural gas well. Highlights included the successful downhole activation of EcoStim's patent-pending isolation mechanism, full deflagration of the proprietary solid rocket propellant, retrieval of the EcoStim™ tool with critical sensor data, and a dramatic pressure increase at the wellhead. 

The company is using the groundbreaking test to refine EcoStim's design in preparation for the next deployment, planned for July.

"This successful deployment of our proprietary technology proves that waterless well stimulation can be used for oil and gas reservoirs," says RocketFrac Cleantech CTO, Pavan Elapavuluri, PhD. "This test has already yielded important information about tool design and reservoir stimulation characteristics, and we are also gathering invaluable production data. As an engineer, I am excited to contribute to both increasing access to energy, and to reducing the environmental impact of its generation."

The current high prices for oil and gas around the world have highlighted the need to expand production to reduce prices. The EcoStim™ solution addresses this need to expand production by improving the environmental performance of energy production.

About RocketFrac  Cleantech

RocketFrac Cleantech is an innovative energy service company developing technologies to unlock tight reservoirs with a lower environmental footprint than alternatives. By eliminating the need to use water in the fracking process, RocketFrac's patent-pending proprietary technology conserves this important resource, while lowering greenhouse gas emissions, and improving operational efficiency. This approach respects Environment, Social and Governance (ESG) commitments, while contributing to critical energy independence needs around the world.

Founded in 2017, and headquartered in Canada, RocketFrac is working with international representatives in multiple markets to bring its unique fracking technology to a global customer base. RocketFrac Cleantech is guided by experienced energy sector experts, including CTO Pavan Elapavuluri, formerly of Schlumberger, and The Honorable Ronald R. Spoehel, Chairman, formerly of NASA.

Cautionary Notes and Forward-Looking Statements

Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding RocketFrac's future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

SOURCE RocketFrac Services Ltd.