8Sigma Energy Services Closes $6 Million Financing and Announces Worldwide Partnership
CALGARY, Alberta–(BUSINESS WIRE)–8Sigma Energy Services Incorporated (“8Sigma” or “the Company”), a leader in multi-stage hydraulic fracturing technologies, today announced it has closed $6 million in growth financing.
“The upstream industry has realized that technological innovation is key to meeting reduced emissions, improved production and ROIs through interventionless fracturing technologies and improved plug-and-perf techniques. 8Sigma is proud to be playing a leading role in the future of multi-stage stimulation and this financing will allow us to continue to roll out our technologies throughout North America and the world,” said 8Sigma’s CEO, Blake Wood.
8Sigma is leading a major shift in the multi-stage hydraulic fracturing (MSHF) industry towards interventionless fracturing technologies with the Samurai™ and infintyFracX™ product lines which have been run onshore and offshore in the North Sea, Europe, China, Alaska and the United States of America. The Samurai™ and infinityFracX™ MSHF technologies allow energy companies to dramatically increase efficiencies during the fracturing process while also reducing operational complexity throughout the life cycle of the well. Increased efficiency not only lowers costs but also reduces greenhouse gas emissions emitted during the fracturing process.
8Sigma’s infinityFracX™, Samurai™ and Guardian™ Frac Plug deployments have led to over 900% in year-over-year Sales growth in 2021 as more operators realize the financial and ESG value of these technologies.
Results from a recent four well Samurai™ Interventionless Plug-and-Perf deployment delivered a 54% reduction in the time required to stimulate the wells while also dramatically lowering the cost of services and equipment before including the saved costs from reduced pumping times.
Along with this investment, 8Sigma announced that a Worldwide technology partnership has been entered into with NOV Inc., a leading worldwide provider of equipment and components used in oil and gas drilling and production operations. This partnership will provide worldwide customers to access 8Sigma technology while allowing 8Sigma to focus on the North American market.
“As we scale to meet Guardian™ and Voodoo™ Frac Plug demand in North America, we’re excited to have a strong strategic worldwide partner in NOV, a forward-thinking manufacturer and service company. We believe the caliber of our customers and investors demonstrates the market opportunity before us,” Blake added.
8Sigma Energy Services Incorporated (“8Sigma”) is a global leader in multistage hydraulic fracturing technologies. For more information: www.8sigmaes.com
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