Seasoned Oil and Gas Industry Veterans and Entrepreneurs Join
CALGARY, Alberta–(BUSINESS WIRE)–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.
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
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.
Tim Streeb, ICR