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Share Name | Share Symbol | Market | Type |
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Gasfrac Energy Services | TSXV:GFS | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
GASFRAC Energy Services Inc. (TSX VENTURE:GFS) ("GASFRAC") announces that it has completed the investigation of the incident described in its press release of January 16, 2011. The investigation was conducted by third party fire investigators working with GASFRAC personnel. The investigation concluded that a brief propane flash caused the ignition of lubricating fluids and tires on two fracturing pumpers. The isolation systems in place prevented any propane combustion beyond the initial brief flash. It was further determined that the cause of the leak was a premature mechanical failure of the low pressure side of the suction manifold of one of the quintiplex pumps. We have determined detailed corrective actions to prevent any recurrence and are in the process of implementing these actions and have targeted January 31, 2011 for recommencement of operations. GASFRAC is an oil and gas service company headquartered in Calgary, Alberta, Canada, whose primary business is to provide LPG fracturing services to oil and gas companies in Canada and the USA.
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