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Wednesday, April 16, 2014

Prometheus Energy Deploys First LNG-Powered Dedicated Hydraulic Fracturing Pumps

Prometheus Energy Group Inc. recently announced the successful deployment of the first 100-percent LNG (liquid natural gas)-powered turbines for hydraulic fracturing. The project will support operations for Green Field Energy Services Inc. in the Eagle Ford shale play in South Texas.

PROMETHEUS ENERGY LOGOEagle Ford is one of the most lucrative shale plays in North America. In February, the nine fields that make up the region yielded more than 471,000 barrels. Based in Lafayette, La., Green Field Energy completed more than 60 hydraulic fracturing stages on a well series in Eagle Ford earlier this month, all of which are powered by LNG.

In a statement by Prometheus Energy, the company said it will provide all LNG equipment, including onsite mobile LNG storage and vaporization, technical field support, and project management of all third parties for compression and power generation services. The statement called this a “first-of-a-kind project” is part of the company’s efforts to create an LNG distribution infrastructure, enabling the LNG framework for specialized customer solutions.

“We are extremely pleased to support Green Field Energy Services in providing critical equipment and LNG fuel solutions that greatly reduce air emissions in the hydraulic fracturing market,” said Jim Aivalis, CEO of Prometheus Energy.  “One of our key goals is to help our growing and diverse customer base by maximizing their returns with lower cost LNG fuel alternatives while simultaneously reducing their environmental footprint.  For us, to achieve this goal is a testament to our experience and expertise in delivering regasification solutions in a safe, cost-effective, reliable and timely manner.”

Prometheus Energy, which is privately held by Shell Technology Ventures Fund 1 B.V. and Black River Asset Management LLC, is one of the largest and fastest growing suppliers of liquefied natural gas (LNG) to the industrial sector in North America.  The company also recently received an additional capital investment of $10.5 million from Kenda Capital, which manages the Shell Technology Ventures Fund.

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