CALGARY, AB, April 29, 2022 /PRNewswire/ -- RocketFrac Services Ltd. ("RocketFrac" or "the Company"), an innovative Cleantech Energy Services Company, is pleased to announce that it has signed an exclusive representative agreement with Amran Establishment LLC ("Amran") for the territory of the Sultanate of Oman.
The two-year agreement, effective April 1, 2022, provides Amran exclusive rights to market RocketFrac in the Sultanate of Oman. The agreement includes an option to renew for an additional two-year period, subject to a formal review within 90 days, prior to the agreement's end date.
"This collaboration between RocketFrac and Amran, an industry leader in Oman, is an exciting opportunity for RocketFrac going forward," says RocketFrac CEO, Tom Whalen. "Amran's established presence in the region provides RocketFrac immediate access to an important market that is especially suited to the Company's waterless well stimulation solution."
RocketFrac is an innovative Energy Service Company with proprietary technology that unlocks tight reservoirs with a lower environmental footprint than alternatives. By eliminating the need to use water in the fracking process, RocketFrac's patent-pending technology conserves this important resource, while lowering greenhouse gas emissions, and improving operational efficiency. This approach respects Environment, Social and Governance (ESG) commitments, while contributing to critical energy independence needs around the world.
Founded in 2017, and headquartered in Canada, RocketFrac is working with international representatives in multiple markets to bring its unique fracking technology to a global customer base. RocketFrac is guided by experienced energy sector experts. Leadership includes CEO Tom Whalen, former President and Managing Director of Baker Hughes Canada, CTO Pavan Elapavuluri, formerly of Schlumberger, and The Honorable Ronald R. Spoehel, Chairman, formerly of NASA.
Amran was established in 1978, by Mr. Said Amran Al Harthy, with the aim of providing the oil and gas industry in the Sultanate of Oman with the latest technology and expertise. From a modest beginning, the company has grown to be one of the largest contractors of oil and gas field equipment and services in the Sultanate, and today represents some of the best-known manufacturers and service providers in the industry.
For further information, please contact:
Mike Bowerman
Director of Communications +1 (403) 461.6079
mike.bowerman@rocketfrac.com
Tom Whalen
President and CEO +1 (403) 615.7829
tom.whalen@rocketfrac.com
Certain statements in this press release constitute forward-looking information. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding RocketFrac's future, strategy, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. Forward-looking statements in this news release include statements regarding the engagement and activities of Amran pursuant to the representative agreement.
These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Readers should not place undue reliance on the forward-looking statements and information contained in this news release. The Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
