Reveal Energy Services has entered into a technology licensing and development agreement to commercialize ConocoPhillips’s patented poroelastic response measurement [PRM] technology. The companies will perform joint research and development in the PRM technology space, and Reveal Energy Services will integrate this technology for mapping hydraulic fractures and real-time fracture monitoring into its IMAGE Frac service.
IMAGE Frac, developed under an exclusive license from Equinor since 2016, provides simple, accurate, affordable fracture maps based on pressure measurements in offset wells. It has been used to quantify fractures in more than 30,000 hydraulic fracturing stages in the US and Canada.
“We are delighted that ConocoPhillips has chosen to collaborate with us,” said Sudhendu Kashikar, CEO of Reveal Energy Services. “This agreement propels Reveal Energy Services into a strong leadership position in hydraulic fracturing diagnostics using low-cost pressure data. Operators will be able to optimize completion designs and well spacing, not just for science pads but for all projects. Reveal Energy Services is leading a fracture diagnostics culture change to continuous monitoring with continual innovation in software and services.”