CALGARY—Millennium Stimulation Services Ltd. has acquired hydraulic fracturing (fracking) technology company ENFRAC Inc., in a $12-million stock-swap.
ENFRAC has developed a streamlined and efficient method of pumping liquefied natural gas in energized or “foam frac” applications.
But this deal is about locking down exclusive use of ENFRAC’s portfolio of patents and patent-pending R&D and the potential of licensing revenue from that research.
ENFRAC founder Grant Nevison will be join Millenium as an executive vice president.
Millenuim Stimulation is a fracking company focused on the Williston Basin in Saskatchewan and Manitoba. Millennium’s first frac station is in Estevan, Sask.