ResFrac initiates the process by building a “why” model using first principle physics. “Once we have a model that accurately describes how things are acting in the rock, we apply algorithms that use data analytical techniques,” ResFrac COO, Garrett Fowler said. “Optimization algorithms run a variety of hypothetical simulations—moving a well 50 feet deeper, for example, or using twice as much fluid—to determine the best next step in the development process.”

This week, the US Secretary of Energy, Jennifer Granholm, was in Houston to announce an ‘Earthshot’ initiative to accelerate domestic production of zero-emission, baseload geothermal energy  Secretary Granholm announced the initiative at a press conference, and then hosted a roundtable discussion with Reginald DesRoches, the president of Rice University, and a group of innovators in the geothermal space. ResFrac CEO Mark McClure was one of the participants in the roundtable. Sec. Granholm asked him how to increase engagement from the oil and gas industry in geothermal.

We’re excited to announce that Mark McClure, ResFrac CEO was chosen to receive a “TWA Energy Influencers Class of 2021” award, given by The Way Ahead, a publication of the Society of Petroleum Engineers.  This honor was given to seventeen young professionals, under the age of 36, “who excel in their fields at a level superior to that of their peers, yielding second-to-none achievements. Their outstanding efforts help shape the narrative around key issues in the energy sector for future generations.” Learn more about all those awarded on The Way Ahead website.

HOUSTON– Hess Corp. applied advanced numerical modeling and simulation to better understand complex relationships between a horizontal parent and two vertical child wells completed in the Middle Bakken formation. The results not only help make sense of diverse parent/child well observations, but also shed new light on effective frac length, the impact of frac hits on parent well production, proppant distribution and “trapping,” and more.

“Private-equity-backed tech startups are fostering change in the oil and gas space with innovative, disruptive technology. Many investors have turned to transformative technologies to enable digitalization and improve returns. Given the current price environment, harnessing digital technologies has proven to be a critical part of survival.

As many oil and gas companies look for solutions to help cut costs, Investor profiled three forward-thinking digital technology startups that are moving through the energy industry and helping streamline operations, boost efficiencies and maximize production.”