HOUSTON Flotek Industries, Inc. (NYSE: FTK) this morning announced the introduction of FracMax Canada, introduced Steve Marinello, PhD as the new Director of Applied Chemistry Research and announced an upcoming Society of Petroleum Engineers presentation by John Chisholm in Saudi Arabia. <\/p>\n
Flotek Introduces FracMax Canada <\/p>\n
Building upon technology developed to analyze U.S. production results, Flotek today introduced FracMax Canada, its patent-pending, advanced analytics software now for the Canadian oil and gas markets. With nearly 7,700 wells, including over 800 that have utilized Flotek's patented, proprietary Complex nano-Fluid completion chemistries, the initial release of FracMax Canada provides a broad representation of Canadian production across nearly all Western Canadian producing basins. <\/p>\n
\"The introduction of FracMax Canada extends Flotek's commitment to provide industry-leading analytics as well as a platform by which to show the efficacy of CnF chemistries based on widespread, empirical data,\" said John Chisholm, Flotek's Chairman, President and Chief Executive Officer. \"Based on the current data set, Canadian wells with CnF perform at levels superior to those without, very similar to results obtained from the U.S. data set, consisting of over 85,000 wells. We look forward to working with our Canadian clients and others to improve well performance and, through FracMax, better understand best practices in well completions.\" <\/p>\n
Similar to the United States, the FracMax architecture will remain proprietary to Flotek with well studies run for clients through the Company's FracMax analytics subsidiary. The closed architecture provides for consistency and integrity of the data and processes of the software application. <\/p>\n
\"While data availability and access is diverse across countries, it is our intention to continue to look for ways to expand the FracMax analytical power to oil and gas producing regions around the globe,\" added Chisholm. \"We believe the power of FracMax not only benefits Flotek's efforts to increase penetration of CnF in the global completion market, the analytical capabilities stand to add value in many ways to exploration and production as well as energy service companies. We look forward to continue building this powerful platform in the coming months.\" <\/p>\n
Flotek Appoints Veteran Reservoir Engineer to Lead Applied CnF Technology Efforts <\/p>\n
Flotek also announced the appointment of Stephen A. Marinello, PhD to the position of Director of CnF Applied Technology. In his role Dr. Marinello brings over two decades of reservoir engineering and completion experience to lead Flotek's research team in expanding the application of its research to develop pragmatic solutions to specific oilfield challenges. In addition, Dr. Marinello will assist in the development of new CnF markets and new applications of CnF around the globe. He will also be an integral part of the team that develops research protocol and standards for the growth of FracMax Analytics, Flotek's subsidiary that will provide customized research based on the FracMax platform. <\/p>\n
Most recently, Dr. Marinello spent nearly three years as the Senior Reservoir Engineer with Shell International Exploration and Production. Specifically, Dr. Marinello led a team responsible for analyzing field performance of mobility enhancement fluids and completion systems. During his time at Shell he worked closely with Complex nano-Fluids. Prior to Shell Dr. Marinello worked with Halliburton, Baroid Fluid Services, M-I Swaco and Newpark Resources. His broad range of experience includes reservoir, stimulation and production engineering, petroleum and environmental research and academic program development. He holds an undergraduate degree in Biological Sciences from Stanford University and was awarded an M.S. and Ph.D. in Petroleum Engineering from the University of Southern California. <\/p>\n
\"We are thrilled that someone with Steve's credentials, experience and depth of knowledge in reservoir and completion engineering is joining the Flotek team,\" added Chisholm. \"Steve's understanding of the impact of Flotek's Complex nano-Fluids on production and economic returns can only add to the groundswell of credibility surrounding our proprietary chemistry. In addition, Steve's research acumen will allow him to have an immediate impact on the growth of FracMax Analytics and our quest to accelerate our practical research, including the possibility of developing field laboratories where Flotek can validate the efficacy of its technologies through direct field research and operations.\" <\/p>\n
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Flotek Industries Announces Introduction of FracMax(TM) Canada, Appoints Stephen A. Marinello, PhD Director of Applied ...<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" HOUSTON Flotek Industries, Inc. (NYSE: FTK) this morning announced the introduction of FracMax Canada, introduced Steve Marinello, PhD as the new Director of Applied Chemistry Research and announced an upcoming Society of Petroleum Engineers presentation by John Chisholm in Saudi Arabia. Continue reading