Carbo has purchased all the intellectual property rights and trademarks for Fracpro® fracture design modeling software from the Gas Technology Institute.
The purchase will allow continued development of the FracproPT software program along with additional well stimulation programs that complement the technology.
"The purchase of Fracpro software reaffirms CARBO's commitment to our fracturing software business. We intend to continue development, expansion and evolution of the technology to provide our customers with more modern and efficient tools," said Gary Kolstad, President and Chief Executive Officer.
FracproPT is the most widely used fracture design modeling software in the world. It is used to design and optimize hydraulic stimulation operations, thereby increasing well production. Real-time capabilities allow it to be used before, during and after the job to analyze fracture effectiveness.
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