New Owner “Mothballs” GASFRAC’s Waterless LPG Technology

moth ballsIn March MDN told you the sad story that Canadian waterless fracking company GASFRAC had been sold to an unnamed third party after going bankrupt (see Bankrupt Waterless Fracking Co GASFRAC Sold to “Third Party”). GASFRAC’s technology had been used to frack a Utica Shale well (for $22 million), and the results were, shall we say, less than stellar (see EVEP Reports Waterless Fracked OH Well is a Bust). We now know two new things about GASFRAC: (1) the company that purchased it out of bankruptcy is another Canadian company–STEP Energy; (2) STEP has mothballed GASFRAC’s waterless LPG fracking technology…

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