French Parliament report on shale gas: non-flammable propane stimulation, developed by ecorpStim, recognized as a promising alternative technique to hydraulic fracturing
Nov 27, 2013, 09:50 ET
PARIS, Nov. 27, 2013 /PRNewswire/ -- ecorpStim welcomes the conclusions of OPECST* which considers propane stimulation a genuine alternative to hydraulic fracturing for the extraction of shale oil and gas.
French parliamentary office OPECST today released its report on "Alternative techniques to hydraulic fracturing for the exploration and exploitation of unconventional hydrocarbons", which results from one year of investigation, hearings and study trips in the field in France and abroad. Contrary to popular belief, the authors note that "alternative technologies are more developed than currently believed in France" starting with propane stimulation, qualified as an "operational and promising alternative technique".
Developed by ecorpStim, pure propane stimulation (PPS) is currently the only operational technique for extracting unconventional hydrocarbons without any water or chemical additives. The environmental impact of the extraction process is thereby profoundly reduced.
OPECST also stresses the benefits of the technological innovation brought by ecorpStim of non-flammable propane stimulation (NFP), which "removes at 100% the industrial risks associated with the use of regular propane". A major innovation of 2013, the use of this fluorinated form of propane guarantees the safety of operations during both storage, transport and stimulation stages. Finally, drilling platforms on which NFP technology is used will not be submitted to a SEVESO classification in Europe.
Read more on propane stimulation on www.ecorpstim.com.
* French Parliamentary Office for Scientific and Technological Choices
About eCORP Stimulation Technologies, LLC – The company ecorpStim (eCORP Stimulation Technologies, LLC) was created in 2012 to provide European countries, as well as those with limited water resources, with alternatives to hydraulic fracturing, based on pure home grade propane and without the use of chemicals. www.ecorpStim.com
About eCORP International, LLC – Founded in 1978, eCORP and its predecessor companies have extensive oil and gas experience including underground natural gas storage, natural gas transportation, enhanced oil recovery in conventional reservoirs using propane and butane, exploration for and production of conventional and unconventional (shale) reservoirs, electric power generation and marketing of electricity and gas. The company was an early mover in the Marcellus play in Pennsylvania and New York, USA and recognized its potential while developing its highly acclaimed Stagecoach Storage project in New York. The company has acquired multi-million prospective acreage positions internationally. The company's highly experienced management team expects to apply its broad background in hydrocarbon based development in deploying its field services fleet and related technologies in Europe, and globally, to develop its own portfolio, as well as selling its services to third parties as a standalone business unit. Stimulating with pure liquid propane with low-density proppants provides an excellent vehicle for the company to introduce an environmentally sensitive technology to allay concerns about excessive usage of fresh water and potential aquifer contamination as the process uses no water and propane is a gas at ambient pressure and temperature. www.ecorpintl.com
This press release contains certain statements that constitute forward-looking statements under applicable securities legislation. All statements other than statements of historical fact are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", or the negative of these terms or other comparable terminology. These statements are only as of the date of this document and we do not undertake to publicly update these forward looking statements except in accordance with applicable securities laws. Forward-looking statements are based on current expectations, estimates, projections and assumptions, which we believe are reasonable but which may prove to be incorrect and therefore such forward-looking statements should not be unduly relied upon. In addition to other factors and assumptions which may be identified in this document, assumptions have been made regarding, among other things: industry activity; the general stability of the economic and political environment; effect of market conditions on demand for the Company's products and services; the ability to obtain qualified staff, equipment and services in a timely and cost efficient manner; the ability to operate its business in a safe, efficient and effective manner; the performance and characteristics of various business segments; the effect of current plans; the timing and costs of capital expenditures; future oil and natural gas prices; currency, exchange and interest rates; the regulatory framework regarding environmental matters in the jurisdictions in which the Company operates; and the ability of the Company to successfully market its products and services. Forward-looking statements are subject to a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks and uncertainties include: fluctuating prices for crude oil and natural gas; changes in drilling activity; general global economic, political and business conditions; weather conditions; regulatory changes; the successful exploitation and integration of technology; customer acceptance of technology; success in obtaining issued patents; the potential development of competing technologies by market competitors; and availability of products, qualified personnel, manufacturing capacity and raw materials. In addition, actual results could differ materially from those anticipated in these forward-looking statements as a result of the risk factors set forth under the section entitled "Business Risks" in the Company's MD&A.
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SOURCE eCORP Stimulation Technologies, LLC
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