Hart Energy
By Velda Addison
Reservoir modeler ResFrac has been acquired by private equity firm Banneker Partners, a move that positions the software specialist for growth in its core market of unconventionals and beyond.
Private equity’s move into reservoir modeling reflects a shift in the industry. As technical complexity intensify, physics-based optimization is replacing trial-and-error field practices. Investors see software as a scalable solution.
Reservoir engineering workflows are also evolving, pushing operators toward integrated, simulation-driven decision-making that combines diagnostics and modeling to maximize recovery. For investors, it may signal subsurface software is becoming a more central part of field development.
The California-based subsurface simulation specialist focuses on optimizing hydraulic fracturing operations for oil and gas companies along with geothermal producers. Its platform enables operators to model a well’s full lifecycle—from fracking through production—in a single, continuous simulation. The deal, involving a lean team of roughly 30 employees, is expected to accelerate hiring and product development.
“We’re going to be both broader and deeper in the future,” Mark McClure, co-founder and CEO of ResFrac, told Hart Energy.