HOUSTON, July 29, 2013 /PRNewswire/ -- Flotek Industries, Inc. announced today sponsorship of applied research at Texas A&M University to investigate the impact of nanotechnology on oil and natural gas production in emerging, unconventional resource plays.
"With the acceleration of activity in oil and gas producing shales, a better understanding of the impact of various completion chemistries on tight formations with low porosity and permeability will be key to developing optimal completion techniques in the future," said John Chisholm, Flotek's Chairman, President and Chief Executive Officer. "While we know Flotek's Complex nano-Fluid chemistries have been successful in enhancing production in tight resource formations, we believe a more complete understanding of the interaction between our chemistries and geologic formations as well as a more precise comprehension of the physical properties and impact of our nanofluids in the completion process will significantly enhance the efficacy of the unconventional hydrocarbon completion process. This research continues our relationship with Texas A&M where we also are conducting research into acidizing applications in Enhanced Oil Recovery."
Specifically, the research will focus its investigation on the oil recovery potential of complex nanofluids and select surfactants under subsurface pressure and temperature conditions of liquids-rich shales.
Dr. I. Yucel Akkutlu, Associate Professor of Petroleum Engineering in the Harold Vance Department of Petroleum Engineering at Texas A&M University will serve as the principal investigator for the project. Dr. Akkutlu received his Masters and PhD in Petroleum Engineering from the University of Southern California. He has over a decade of postgraduate theoretical and experimental research experience in unconventional oil and gas recovery, enhanced oil recovery and reactive flow and transport in heterogeneous porous media. He has recently participated in industry-sponsored research on resource shales including analysis of microscopic data to better understand fluid storage and transport properties of organic-rich shales.
"As unconventional resource opportunities continue to grow in importance to hydrocarbon production, understanding ways to maximize recovery will be key to improving the efficacy of these projects," said Dr. Akkutlu. "The key to enhancing recovery will be to best understand robust, new technologies and their impact on the completion process. Research into complex nanofluid chemistries to understand the physical properties and formation interactions will play an integral role in the future of completion design to optimize recovery from unconventional hydrocarbon resources."
The research will commence immediately. Inquiries regarding the research should be directed to Flotek.
About Flotek Industries, Inc.
Flotek is a global developer and distributor of a portfolio of innovative oilfield technologies, including specialty chemicals and down-hole drilling and production equipment. It serves major and independent companies in the domestic and international oilfield service industry. Flotek Industries, Inc. is a publicly traded company headquartered in Houston, Texas, and its common shares are traded on the New York Stock Exchange under the ticker symbol "FTK."
For additional information, please visit Flotek's web site at www.flotekind.com.
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