GASFRAC Energy Services Inc. has signed a two year contract with BlackBrush Oil and Gas, L.P. (BlackBrush) to provide fracturing services in South Texas. The contract provides for a minimum commitment to GASFRAC of $7.2 million annually, with upside in economics as activity reaches BlackBrush's target levels. BlackBrush is expected to drill 24 new wells annually in the prolific San Miguel Formation, Maverick Basin, South Texas.
"We are very pleased to deepen our relationship with the team at BlackBrush following the excellent field results we have achieved together in the San Miguel Formation. Deploying GASFRAC's HOOD* technology on several wells, BlackBrush hopes to deploy even larger fracs with substantially better results," said Jason Munro, GASFRAC's President. "In addition, the use of infield hydrocarbons with High Reid Vapor Pressure (HRVP) eliminated the need for supplement frac oils, resulting in a per well cost that is competitive to that of conventional water fracturing."