ENERGY RESOURCES OF UKRAINE secured the rights for exclusive distribution of GasGun technology in the field of dry fracking of Oil&Gas wells in Ukrainian, Romanian and Polish markets
The GasGun technology is a solid-propellant well-stimulation device based on proprietary ballistic technology from the U.S. military. It incorporates an advanced design with the use of progressively burning propellants, proven by independent research to be effective in creating fractures and increasing formation permeability.
Dale Perry, Managing Partner of ERU remarked: “We see tremendous potential for projects in the Oil&Gas industry in Ukraine and truly believe GasGun technology will serve to increase production of existing and depleted wells in the country. We believe that Ukrainian geological conditions are well-suited for GasGun technology and we look forward to close cooperation with Ukrainian producers”.
“GasGun has a proven 10 year track record of over 10,000 stimulations of existing wells in North America, Asia, Africa and Middle East. We are excited by our partnership with Energy Resources of Ukraine to demonstrate that our technology is the right technical solution for the Ukrainian market”, said Adam Schmidt, CEO of Gas Gun Inc.
For his part, Managing Partner of ERU Andrew Favorov emphasized that “we are grateful for the trust and confidence of GasGun Inc. to be their partner in Ukraine and truly believe the use of this technology will play a critical role in increasing the production in Oil&Gas industry of the country, helping to ensure Ukrainian energy independence and self sufficiency of the energy sector’’.
The GasGun, Inc.
The GasGun, Inc. was formed in 1992, initially to provide engineering consulting services. In August 1994, won a Small Business Innovation Research grant from the Department of Energy to develop, test, optimize, and commercialize the use of progressively burning solid propellant for the economical stimulation of oil and gas wells. http://www.thegasgun.com/