I went to Houston job fair yesterday and talked to GASFRAC recruiters. They are looking for: production engineer, electronical engineer, mechanical engineer, research engr/scientist, reservoir engr/petroleum engr, stimulation/completion engr, chemist, chemical engr. [signs of expected future growth]
Man I talked to was former retired Halliburton. They presnted this opportunity to him and he was convinced to join them. He was extremely excited abouit the technology and the company ---"why else would he come out of retirement?" He has seen the fracking work. He thinks the company is going to grow significantly. The other man was ex Chevron.
They also said there is a Houston office in planning.
The fits together with the history. Chevron and Halliburton research came up with the basic patent for LPG as a fracking liquid. They wanted it to be developed, but could not work hand in hand..so they pulled some seasoned engineers under Lestz to form a company in Canada, buy and develop the process, apply for new more complete world patents, and show the idea was feasible. GasFrac is left with exclusive rights in Canada and is now exposing the potential to the US. Now they want to hire folks. There should be an abundance of experienced operators from the hydro fracking industry who will climb on board for the backlog of work and probably premium pay. So they get to pick the cream of the crop.
My prediction: Watch for Halliburton to announce they will begin LPG fracking in the next year. GasFrac gets a licensing premium on top of regular commissions for direct contracts. Chevron could also start up, but really wants the gas and the oil more. So, unless they are trying to keep the neighbors happy in NYS, they, too will bring Halliburton in to LPG frack their wells.
I believe a list of job openings were posted the other day. The price may be down now but the technology is solid and will keep the share price climbing for a long time . We will be rewarded if you can hang on for a year.