RocketFrac Services Ltd. (“RocketFrac” or the “Company”), an energy technology company focused on the development of innovative waterless well-stimulation systems, today announced the appointment of seasoned industry executives Edward Loven as President and Director and Pavan Elapavuluri as Chief Technical Officer (CTO). In these roles, Loven and Elapavuluri will lead RocketFrac in launching and delivering to the market the Company’s water- and proppant-free fracing solution.
“RocketFrac was founded by oil and gas industry veterans with a vision to transform the sector, and we have designed break-through fracing technology that allows for economically efficient and environmentally friendly oil and gas recovery – without the need for water or proppant”
Edward Loven brings more than 35 years of international energy industry experience with a focus on creating value propositions within proprietary assets related to exploration and commercial exploitation. In addition to founding and leading companies in both oil field services and development, Mr. Loven has experience structuring, negotiating and closing large exploration asset transactions related to upstream assets. Mr. Loven maintains numerous strategic relationships throughout the oil and gas industry and has worked on a large number of exploration opportunities involving major oil and gas entities, as well as many intermediate and junior partners in the development of early production opportunities.
Pavan Elapavuluri is a PhD geophysicist with more than 15 years of experience in energy exploration and oilfield technology. He served in Schlumberger’s Houston research labs for over six years working on cutting-edge seismic exploration techniques. He then created his own company, RARE-Services, where he acted as CTO before selling the company and its patents to Advance Seismic Technology.
“RocketFrac was founded by oil and gas industry veterans with a vision to transform the sector, and we have designed break-through fracing technology that allows for economically efficient and environmentally friendly oil and gas recovery – without the need for water or proppant,” said Ronald R. Spoehel, Chairman. “Considering Ed’s and Pavan’s expertise, proven track records and deep industry networks, they have ideal backgrounds to now lead our commercial launch efforts and deliver our solution to the market. We are honored to welcome them to the RocketFrac leadership team.”
About RocketFrac Services Ltd.
RocketFrac Services Ltd. (RocketFrac), a private Canadian company headquartered in Calgary, Alberta, has developed a fracing system utilizing its patent-pending tool and a customized blend of solid rocket fuel not only to improve well productivity, but also to address some of the most pressing problems facing the oil and gas industry today. Environmentally safe and completely waterless, RocketFrac’s technology maximizes fracing efficiencies, to deliver sustainability and economic value for oil and gas producers and their stakeholders.
June 11, 2019 11:19 AM Eastern Daylight Time
Tim Streeb, ICR