Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’ patented poroelastic response measurement [PRM] technology, and the companies will perform joint research and development in the PRM technology space.
Reveal Energy Services will integrate this novel technology for mapping hydraulic fractures and real-time fracture monitoring into its IMAGE Frac service. IMAGE Frac, developed under an exclusive license from Equinor since 2016, provides fracture maps based on pressure measurements in offset wells. It has been used to quantify fractures in more than 30,000 hydraulic fracturing stages in the US and Canada.
“We are delighted that ConocoPhillips has chosen to collaborate with us,” said Sudhendu Kashikar, CEO of Reveal Energy Services. “This agreement propels Reveal Energy Services into a strong leadership position in hydraulic fracturing diagnostics using low-cost pressure data. Operators will be able to optimize completion designs and well spacing, not just for science pads but for all projects.”
Since 2016, Reveal Energy Services’ R&D has resulted in 12 issued patents and numerous industry awards for innovation.
For more information visit: www.reveal-energy.com