HOUSTON, July 25, 2017 /PRNewswire/ -- CARBO Ceramics Inc. (NYSE: CRR) announced KRYPTOSPHERE® HD has been utilized by all super major E&Ps operating in the Gulf of Mexico, for deep, high stress wells.
KRYPTOSPHERE HD is the leading ultra-conductive, high strength ceramic proppant. It was initially engineered to solve the production and completion challenges for Gulf of Mexico Lower Tertiary development, where wells can experience a closure stress range from 12,000 to 20,000 psi. This technology results in higher production and estimated ultimate recovery (EUR), maximizing the operator's return on investment.
In addition to its production enhancement capability, KRYPTOSPHERE HD's unique durability, smoothness, and sphericity, make it more resistant to cyclic loading and acids, and significantly less erosive on frac pumps and downhole tools. These benefits translate into increased completion tool life, reduced rig down time, and overall cost savings for the E&P operator. One company has reported that KRYPTOSPHERE HD is enabling a multi-fold increase in tool life.
"This is an important milestone for KRYPTOSPHERE HD with all super majors in the Gulf of Mexico now having utilized the technology," said Don Conkle, vice president of marketing and sales, CARBO. "We are receiving very positive feedback from our clients. Production results are exceeding their expectations on these prolific wells and they are also realizing a substantial reduction in completion equipment wear-and–tear, resulting in lower risk and cost," he concluded.
CARBO® (NYSE: CRR) is a global technology company that provides products and services to the oil and gas and industrial markets to enhance value for its clients.
CARBO Oilfield Technologies - is a global leader that provides 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. Oilfield Technologies is the world's largest producer of high quality ceramic proppant, provides one of the industry's most widely used fracture simulation software, has proprietary technology that provides fracture diagnostics and production assurance, and offers consulting services for fracture design and completion optimization. The Company also provides a range of technology solutions for spill prevention and containment.
Its products and services are sold to operators of oil and natural gas wells and to oilfield service companies for use in the hydraulic fracturing of natural gas and oil wells.
CARBO Industrial Technologies - is a leading provider of high-performance industrial ceramic media products that are engineered to increase process efficiency, improve end-product quality and reduce operating costs.
Its products and services are primarily sold to industrial companies that work in manufacturing and mineral processing.
For more information, please visit www.carboceramics.com.
The statements in this news release that are not historical statements, including statements regarding our future financial and operating performance and liquidity and capital resources, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and can often be identified by the use of terminology such as "may", "will", "estimate", "intend", "continue", "believe", "expect", "anticipate", "should", "could", "potential", "opportunity", or other similar terminology. All forward-looking statements are based on management's current expectations and estimates, which involve risks and uncertainties that could cause actual results to differ materially from those expressed in forward-looking statements. Among these factors are changes in overall economic conditions, changes in the demand for, or price of, oil and natural gas, changes in the cost of raw materials and natural gas used in manufacturing our products, risks related to our ability to access needed cash and capital, our ability to meet our current and future debt service obligations, including our ability to maintain compliance with our debt covenants, our ability to manage distribution costs effectively, changes in demand and prices charged for our products, risks of increased competition, technological, manufacturing and product development risks, our dependence on and loss of key customers and end users, changes in foreign and domestic government regulations, including environmental restrictions on operations and regulation of hydraulic fracturing, changes in foreign and domestic political and legislative risks, risks of war and international and domestic terrorism, risks associated with foreign operations and foreign currency exchange rates and controls, weather-related risks and other risks and uncertainties. Additional factors that could affect our future results or events are described from time to time in our reports filed with the Securities and Exchange Commission (the "SEC"). Please see the discussion set forth under the caption "Risk Factors" in our most recent annual report on Form 10-K, and similar disclosures in subsequently filed reports with the SEC. We assume no obligation to update forward-looking statements, except as required by law.
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Jamie Efurd, Marketing Communications Manager
Mark Thomas, Director, Investor Relations
SOURCE CARBO Ceramics Inc.