OptaSense and Liberty Oilfield Services Form Partnership
13 Maio 2021 - 9:30AM
Business Wire
Launch FracSense; Improving Decision Making
for Oil & Gas Operators
Luna Innovations (NASDAQ: LUNA), a global leader in advanced
optical technology, today announced an important partnership
between its OptaSense business and Liberty Oilfield Services. The
strategic partnership is introducing FracSenseTM, a diagnostic
service to help engineering professionals at our oil & gas
customers acquire more accurate diagnostic information, ultimately
leading to optimized hydrocarbon production.
“The formation of this alliance with Liberty is an important
step in capturing a significant opportunity in the oil and gas
market,” said Luna Innovations CEO, Scott Graeff. “Fiber-optic
sensing technology provides operators the ability to gather key
data while improving their overall asset economics. We are excited
to work with our partners and customers to deliver this
cutting-edge technology.”
Launched in partnership with Liberty, the diagnostics service
utilizes real-time fiber optic measurements to monitor the fracture
treatment process in wells. Capturing high resolution, real-time
data allows operators to course correct, improving fracture length
and fracture-height model calibration as well as evaluating
effective well spacing. Additionally, since the fiber can be
deployed into new or existing wells, the technology can also be
used to profile production.
James Pollard, Managing Director of OptaSense, a Luna company,
stated, “The ability to optimize frac design based on reservoir and
production response will deliver considerable value. OptaSense’s
fiber-optic measurements, delivering real-time data and
visualization, along with Liberty’s hydraulic fracturing
stimulation and completion design expertise, will help operators
maximize resource recovery in their reservoirs.”
“FracSense is our latest service offering, which strengthens our
existing portfolio of fracture engineering technologies,” said
Liberty CEO, Chris Wright. “This allows our renowned technical team
to provide best-in-class fracture diagnostics and modeling to help
our customers with completion design optimization and extract
maximum value from their resource.”
About Luna Luna Innovations
(NASDAQ: LUNA) is a leader in optical technology, committed to
serving its customers with unique capabilities in high-performance,
fiber-optic-based sensing, measurement, testing and control
products for the aerospace, transportation, infrastructure,
security, process control, communications, silicon photonics,
defense, and automotive industries, among others. Luna is organized
into two business segments, which work closely together to turn
ideas into products: Lightwave and Luna Labs. Enabling the future
with fiber, Luna’s business model is designed to accelerate the
process of bringing new and innovative technologies to market.
www.lunainc.com
About OptaSense OptaSense, a
Luna company, is the world leader in Distributed Acoustic Sensing
and operates in 40 countries globally across multiple industries
including Oil & Gas, Defense & Security, Transport and
Utilities. OptaSense (optasense.com) technology is currently being
used to monitor more than 25,000 km of assets around the globe,
including oil and gas pipelines, security perimeters and
international borders.
About Liberty Liberty
Oilfield Services (NYSE: LBRT) is a leading North American oilfield
services firm that offers one of the most innovative suites of
completion services and technologies to onshore oil and natural gas
exploration and production companies. Liberty was founded in 2011
with a relentless focus on developing and delivering next
generation technology for the sustainable development of
unconventional energy resources in partnership with our customers.
Liberty is headquartered in Denver, Colorado. For more information
about Liberty, please contact Investor Relations at
IR@libertyfrac.com.
Forward-Looking Statements
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna’s expectations regarding technological capabilities and
potential performance improvements, or value related to its
technology and/or products. Management cautions the reader that
these forward-looking statements are only predictions and are
subject to a number of both known and unknown risks and
uncertainties, and actual results, performance, and/or achievements
of Luna may differ materially from the future results, performance,
and/or achievements expressed or implied by these forward-looking
statements as a result of a number of factors. These factors
include, without limitation, changes in market needs and
technological challenges and other risks and uncertainties set
forth in Luna’s periodic reports and other filings with the
Securities and Exchange Commission (“SEC”). Such filings are
available on the SEC’s website at www.sec.gov and on Luna’s website
at www.lunainc.com. The statements made in this release are based
on information available to Luna as of the date of this release and
Luna undertakes no obligation to update any of the forward-looking
statements after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210513005351/en/
Allison Woody Phone: 540-769-8465 Email: woodya@lunainc.com
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