HOUSTON, Dec. 10, 2019 /PRNewswire/ -- Reveal Energy Services announces today that Steven Schlotterbeck, retired CEO of EQT Corporation, has been appointed Chairman of the Board of Directors.
With his extensive exploration and production experience, Schlotterbeck adds insightful operator perspective as the oil and gas industry embraces the necessity of routinely acquiring hydraulic fracture measurements instead of doing so on a few pilot projects. Reveal Energy Services has led this culture change with patented simple, accurate, affordable pressure-based technology that acquires the measurements, which increase unit production at lower completion cost.
"Reveal Energy Services' technology is fundamentally changing the fracture measurement approach with actionable insights into completion optimization compared with the alternatives. These insights are vital to lowering unit cost by lowering the cost to drill and complete while increasing well production, the requirements for operator success now," said Schlotterbeck. "I am honored to become a part of this great team."
During his 18-year career at EQT, Schlotterbeck had significant roles that led to his CEO appointment. He was also SVP of Reserve Development at EQT where he managed the development of modern fracking techniques. His leadership was integral to the EQT transformation from a small, local gas distribution company into the largest natural gas producer in the United States. He was also the CEO and a director of affiliated pipeline companies EQT Midstream Partners, EQT GP Holdings, and Rice Midstream Partners. Together, these companies were one of the largest US natural gas gatherers.
Schlotterbeck has more than 30 years of distinguished industry experience with roles at Marathon Oil and Equinor, formerly Statoil, before his tenure at EQT Corporation. He has a Bachelor of Science degree in Petroleum Engineering from The Pennsylvania State University.
"I am appreciative and pleased that Steven is joining the Board of Directors as Chairman of the Board," said Sudhendu Kashikar, CEO of Reveal Energy Services. "His insight will be essential as we continue to expand our staff and grow our technology portfolio in this time of rapid industry change."
Reveal Energy Services' pressure-based technology has validated more than 10,000 hydraulic fracturing stages in the US and Canada since the company founding in 2016.
About Reveal Energy Services
Reveal Energy Services offers simple, accurate, affordable pressure-based technology that enables operators to improve completion efficiency, reduce completion cost, and increase unit production. The flagship IMAGE Frac™ pressure-based fracture maps offer unparalleled fracture measurements providing insight into completion design effectiveness and well-spacing decisions. The FracEYESM frac hit analysis service minimizes the effect of frac hits. The DSCVRiSM cloud-based completion evaluation engine improves completion performance. The company, which is privately held, is funded by Equinor Technology Ventures and Lime Rock Partners. Reveal Energy Services, with corporate headquarters in Houston, has regional offices in Midland, Pittsburgh, and Calgary. For more information, please visit: reveal-energy.com.
Contact
Sudhendu Kashikar
[email protected]
+1.832.529.1895
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SOURCE Reveal Energy Services