Coretrack is an oil and gas technology company with two core businesses: Originally, the development of the Core Level Recorder System (“CLRS”), a tool used in the oil and gas industry to provide real-time coring information to the rig floor during coring operations. More recently, the development of a unique technology for the manufacture of ceramic proppants for use in the Hydraulic Fracturing market under its recent acquisition of unlisted proppant developer, Ecopropp.
“Proppants” are a sand like commodity that are often the single most expensive cost item in every oil and gas hydraulic fracturing program (fracking). Proppants are pumped into an oil and gas well under pressure to “prop” open the tiny fractures that are created in hydrocarbon bearing shale rocks during fracking. Oil and gas is then able to flow from the ground fractures that are held open by the proppants.
The explosion in fracking to unlock previously unrecoverable oil and gas reserves has seen the worldwide ceramic proppant market demand increase to 8 billion pounds (about 3.6 billion kg) in 2013, up from just 1 billion pounds in 20031.
Traditional ceramic proppants are made from clay and bauxite or sometimes both. The Ecopropp ceramic proppant is majority manufactured from “flyash”, the mostly unwanted bi-product of coal fired power stations.
The worldwide market for ceramic proppants is approximately USD$2.5b annually2.