HOUSTON, Feb. 2, 2016 /PRNewswire/ -- CARBO Ceramics Inc. (NYSE: CRR) announced the successful use of KRYPTOSPHERE® LD, its ultra-conductive, low-density ceramic proppant technology, in the Utica for CONSOL Energy, a leading Appalachian basin producer. This is the first well to utilize KRYPTOSPHERE LD and joins KRYPTOSPHERE HD as another product in the KRYPTOSPHERE ultra-conductive proppant technology platform to maximize hydrocarbon flow for the life of the well.
In its first application, KRYPTOSPHERE LD was used at a depth of approximately 13,500 feet. Under these stress conditions, this technology was selected for its better economics, strength, improved proppant transport and increased propped fracture volume. KRYPTOSPHERE LD eliminated the need for gel and cross-linked fluids, leading to a reduction in overall completion cost. Initial production from the first well using KRYPTOSPHERE LD was prolific, flowing more than 61.9 MMcfd of natural gas in a 24 hour period and making it one of the highest producing wells in the Utica to date.
KRYPTOSPHERE LD is engineered to have the same characteristics as KRYPTOSPHERE HD – mono-sized with exceptional strength, durability and smoothness – providing high conductivity across the entire range of low to high stress well conditions. It significantly exceeds the conductivity of existing low-density proppant and reduces costly wear-and-tear on pressure pumping equipment, ultimately providing higher production and estimated ultimate recovery (EUR). In addition, the KRYPTOSPHERE LD technology provides higher conductivity, improved proppant transport and increased propped fracture volume compared to intermediate-density and bauxite ceramics.
"Integrating KRYPTOSPHERE LD technology into our completion design is an example of how CONSOL Energy has achieved the completion efficiency that has allowed us to showcase three of the top ten dry Utica well results to-date across the industry," remarked Kirby Walker, Director of Regional Operations, CONSOL Energy.
"Commercializing innovations like KRYPTOSPHERE LD that lower the operator's cost to produce oil and gas is a necessity in today's challenging environment," added Don Conkle, Vice President of Sales and Marketing, CARBO. "Working with leading operators such as CONSOL Energy who make it possible to introduce such technologies affirms the investment CARBO is making in technologies that improve reservoir recovery and F&D costs."
CARBO focuses on integrating technologies to produce engineered solutions in its Design, Build, and Optimize the Frac® technology businesses, delivering important value to E&P operators by increasing well production and EUR.
For more information, please visit www.carboceramics.com.
Investor Contact: Mark Thomas, Director, Investor Relations (281) 921-6400
Media Contact: Jamie Efurd, Marketing Communications Manager (281) 921-6400
About CONSOL Energy
CONSOL Energy Inc. (NYSE: CNX) is a Pittsburgh-based producer of natural gas and coal. The company is one of the largest independent natural gas exploration, development and production companies, with operations centered in the major shale formations of the Appalachian basin. CONSOL Energy deploys an organic growth strategy focused on rapidly developing its resource base. As of December 31, 2014, CONSOL Energy had 6.8 trillion cubic feet equivalent of proved natural gas reserves. The company's premium coals are sold to electricity generators and steel makers, both domestically and internationally. CONSOL Energy is a member of the Standard & Poor's 500 Equity Index. Additional information can be found at www.consolenergy.com.
SOURCE CARBO Ceramics Inc.