Company Research Report: ProFrac Services
Company Overview
- Name: ProFrac Services
- Mission: Equip customers with industry-leading solutions for harnessing critical natural resources through innovation in equipment and services to be more efficient, sustainable, and cost-effective.
- Founded: 2016
- Founders: Co-founded by Ladd Wilks
- Key People:
- Ladd Wilks - Chief Executive Officer
- Austin Harbour - Chief Financial Officer
- Matthew Greenwood - Chief Commercial Officer
- Paul Kaster - Sr. Vice President HSE, Compliance, & Training
- Jeremy Spriggs - Sr. Vice President of Operations
- Headquarters: 333 Shops Boulevard, Willow Park, TX 76087
- Number of Employees: No information is available
- Revenue: No information is available
- Known For: A leader in providing hydraulic fracturing services with a focus on well production optimization, environmental responsibility, and customer satisfaction.
Products
Electric Frac
- Description: Environmentally conscious all-electric hydraulic fracturing solutions.
- Key Features:
- Emissions reduction with possible zero emissions when connected to grid power
- Quieter operations and compact design
- Enhanced rate control for operational efficiency
Dual Fuel
- Description: Technology enabling substitution of natural gas for diesel, reducing greenhouse gas emissions.
- Key Features:
- Adaptable substitution rates for efficient power output
- Significant diesel delivery reduction by up to 70%
- Up to 23% reduction in CO2 emissions
Idle Management
- Description: Engine Standby Controller (ESC) reducing idle time and emissions.
- Key Features:
- 80% reduction in idle time
- Automated operation for optimal efficiency
Frac Pumps
- Description: High-pressure pumps designed for efficiency and safety.
- Key Features:
- Emission reduction with Tier IV dual-fuel pumps
- Fire suppression systems
Simul-Frac
- Description: Simultaneous stimulation of two wells to boost efficiency and reduce costs.
- Key Features:
- 50% increase in efficiency
- Reduction in total pad rental days
Manufacturing
- Description: Production of frac units with a focus on resilience and efficiency.
- Key Features:
- High production capacity of 30 frac units per month
- Proactive feedback incorporation for product optimization
Fire Suppression System
- Description: AFEX fire suppression system installed for enhanced safety at wellsites.
- Key Features:
- Triple redundant actuation and manual activations
- Integrated safety in blenders
Centipede™ Manifolds
- Description: Designed to facilitate hydraulic fracturing operations efficiently.
- Key Features:
- 80% reduction in iron connections
- 50% reduction in rig-up time
Lab Capabilities
- Description: Optimizes chemistry selection for enhanced performance.
- Key Features:
- Advanced modeling tools for oilfield chemistry
- Precise water and friction pressure analysis
Recent Developments
- Recent Developments:
- Displaced 25.5+ million gallons of diesel with dual-fuel technology in 2022
- Established 17 Next Generation Tier IV Frac Fleets
- Delivered 9 electric frac fleets
- New Products: No specific new products identified
- New Features:
- Expanded electric frac fleet capabilities
- Implementation of advanced idle management technologies
- Partnerships: Collaborations for chemical innovations reducing freshwater requirements
This report provides a comprehensive overview of ProFrac Services, highlighting its emphasis on innovation, sustainability, and client-focused practices.
