BOSTON — Lux Research reports the frac water management market is estimated to be worth $1.9 billion despite a decline in oil prices globally, according to a press release. The figure does not include water transportation and disposal.
Fracs fell from about 2,300 to 1,350 from October 2014 to February 2015, but many companies are still able to be successful, noted the release. Operators use new technologies operate more efficiently as oil and gas companies cut spending.
Water recycling could stretch further as regulatory momentum builds up in the U.S., creating stricter oversight of water transportation, stated the release.
“No single technology or water management approach will win in the frac water treatment space,” said Brent Giles, research director for Lux, in the release. “Rather, companies will employ a mixture of water disposal, centralized treatment and onsite treatment using physical, thermal and electrochemical methods.” Giles is one of the authors of the report, “Surviving the Shakeout in Frac Water Treatment Technologies.”
Lux Research rated 19 companies on the Lux Innovation Grid, reported the release. Saltworks, Memsys and WaterTectonics places in the dominant quadrant in their categories, while BioPetroClean was the highest rated company among oil recovery and removal companies.
You can find the entire release here.