ShearFRAC® Company Profile

Background

Overview

ShearFRAC® is an innovative technology company specializing in real-time pressure analytics for hydraulic fracturing operations. By transforming surface pressure data into actionable subsurface intelligence, ShearFRAC® empowers engineers to make informed decisions that enhance completion efficiency and well productivity. The company's mission is to provide continuous visibility into fracture behavior, enabling operators to respond to subsurface conditions in real time, thereby reducing operational risk and improving performance on every stage.

Mission and Vision

ShearFRAC® is committed to innovation, optimization, real-time solutions, environmental stewardship, client success, and safety. The company aims to maximize stimulated rock volume and efficiency in every stage of every well, ensuring clients extract the most value from their assets. By providing actionable, data-driven insights during fracturing operations, ShearFRAC® allows for immediate adjustments and improvements, reducing the environmental footprint of hydraulic fracturing by optimizing resource use and minimizing waste.

Industry Significance

Operating within the oil and gas industry, ShearFRAC® addresses the critical need for real-time data analysis in hydraulic fracturing. By offering technologies that standardize decision-making and quantify uncertainty, the company plays a pivotal role in enhancing completion operations and well performance across various basins.

Key Strategic Focus

Core Objectives

• Optimization of Completion Efficiency: Enhancing the productivity of each hydraulically fractured stage through real-time data analysis.

• Risk Mitigation: Identifying and addressing potential issues such as fracture-driven interactions (FDIs) and casing deformation promptly.

• Standardization of Decision-Making: Implementing adaptive playbooks to ensure consistent operational decisions across teams.

Areas of Specialization

• Real-Time Pressure Analytics: Utilizing surface pressure data to gain subsurface insights.

• Fracture Measurement Technology: Providing continuous diagnostics to assess fracture development and stage effectiveness.

• Operational Intelligence: Offering tools that enable engineers to make data-driven adjustments during completion stages.

Key Technologies Utilized

• FracBRAIN®: A patented diagnostic platform that transforms wellhead pressure into actionable subsurface intelligence, providing engineers with real-time visibility into downhole conditions.

• ResBRAIN®: A reservoir engineering tool that analyzes post-fracture data to assess stimulated rock volume and productivity.

• FDI Playbook: A solution designed to monitor, manage, and mitigate unwanted well-to-well interactions.

• Richter Predictor: An advanced solution for seismic risk management, offering predictive insights to mitigate induced seismicity and optimize fluid injection operations.

Primary Markets Targeted

ShearFRAC® primarily serves operators in unconventional reservoirs across North America and internationally, focusing on regions such as the Permian, Eagle Ford, Delaware Basin, Montney, and Midland Basin.

Financials and Funding

Funding History

Specific details regarding ShearFRAC®'s total funds raised and recent funding rounds are not publicly disclosed. The company operates as a private entity, and financial information is limited.

Notable Investors

Information about individual investors or investment firms backing ShearFRAC® is not publicly available.

Utilization of Capital

While specific utilization details are not disclosed, it is reasonable to infer that the capital is allocated towards:

• Research and Development: Enhancing existing technologies and developing new solutions.

• Operational Expansion: Scaling operations to serve a broader client base.

• Market Penetration: Entering new geographical markets and sectors within the oil and gas industry.

Pipeline Development

Key Pipeline Candidates

ShearFRAC® focuses on the continuous development and refinement of its proprietary technologies, including FracBRAIN®, ResBRAIN®, FDI Playbook, and Richter Predictor. These tools are integral to the company's strategy of providing real-time, data-driven solutions to enhance completion operations.

Stages of Development

• FracBRAIN®: Fully developed and operational, providing real-time fracture measurements and guidance.

• ResBRAIN®: Operational, offering post-fracture analysis to assess well productivity.

• FDI Playbook: Implemented, enabling proactive management of well-to-well interactions.

• Richter Predictor: Available, assisting in seismic risk management during fracturing operations.

Target Conditions

The technologies are designed to address various challenges in hydraulic fracturing, including:

• Fracture Complexity: Understanding and optimizing fracture networks.

• Operational Efficiency: Reducing fluid usage and completion time.

• Risk Mitigation: Preventing issues like FDIs and induced seismicity.

Anticipated Milestones

While specific future milestones are not publicly disclosed, the company is likely focused on:

• Technological Enhancements: Improving the accuracy and functionality of existing tools.

• Market Expansion: Increasing adoption of technologies across different basins and regions.

• Client Success Stories: Demonstrating measurable improvements in well performance and cost savings.

Technological Platform and Innovation

Proprietary Technologies

• FracBRAIN®: Transforms surface pressure data into real-time subsurface intelligence, enabling engineers to visualize fracture behavior and optimize stimulation operations during each completion stage.

• ResBRAIN®: Analyzes post-fracture data to assess stimulated rock volume and productivity, providing insights into well performance.

• FDI Playbook: Monitors, manages, and mitigates unwanted well-to-well interactions, protecting well integrity and maximizing production potential.

• Richter Predictor: Offers predictive insights to mitigate induced seismicity and optimize fluid injection operations, enhancing seismic risk management.

Significant Scientific Methods

• Pressure Transient Analysis (PTA): Utilized in ResBRAIN® to determine the increase in stimulated rock volume post-fracture.

• Decline Curve Analysis (DCA) and Rate Transient Analysis (RTA): Employed to assess well productivity and ultimate recovery after 90 days of production.

AI-Driven Capabilities

While specific AI methodologies are not detailed, ShearFRAC®'s technologies likely incorporate advanced data analysis and machine learning algorithms to process real-time pressure data and provide actionable insights.

Leadership Team

Key Executives

• Thomas Johnston: President & CEO

• Robert Dack: Vice President of Software Services & President (Canada)

• Andrew McMurray: Chief Operating Officer

Professional Backgrounds and Contributions

• Thomas Johnston: Leads the company's strategic direction and overall operations. He has guided the company through significant growth and technological advancements.

• Robert Dack: Oversees software development and operations in Canada, ensuring technological excellence. He has been instrumental in developing and deploying software solutions that enhance completion efficiency.

• Andrew McMurray: Manages daily operations, focusing on optimizing completion processes and client relations. He has implemented operational strategies that have led to measurable improvements in well performance.

Competitor Profile

Market Insights and Dynamics

The hydraulic fracturing industry is evolving with a growing emphasis on real-time data analytics and optimization technologies. Operators seek solutions that enhance completion efficiency, reduce costs, and mitigate risks associated with fracturing operations.

Competitor Analysis

• Corva: Provides real-time drilling data analytics and monitoring solutions.

• ROGII: Offers real-time data acquisition and monitoring services for drilling and completions.

• Advanced BioCatalytics: Specializes in environmentally friendly fracturing fluids and additives.

Strategic Collaborations and Partnerships

In January 2023, ShearFRAC® and Drill2Frac announced a technology alliance to combine proactive insights with real-time execution. This partnership aims to enhance completion optimization by integrating ShearFRAC®'s real-time pressure analytics with Drill2Frac's drilling data analysis.