Following the MoU, GASFRAC and eCORP are negotiating definitive documentation for a joint venture that will complete market and regulatory research, and develop built-to-suit equipment followed by construction of an initial set of equipment to be used to delineate the scope of work for full scale development of this opportunity.
ECORP COO Tom Harris said the company is very happy to help bring the environmentally compatible stimulation technology to Europe which has been proven in Canada and the US.
"This technology is also applicable for enhancing oil recovery in conventional reservoirs and can eliminate issues related to fresh water usage and contamination when stimulating low-porosity formations," said Harris.
GASFRAC president and CEO Zeke Zeringue said the company is excited about the opportunity to partner with eCorp International, one of the most progressive and innovative companies in the industry.
