Energy Ventures Invests in Oxane Materials Inc.
Energy Venture Fund III has today announced that it has invested in Oxane Materials Inc. Oxane Materials is the manufacturer of OxFracTM, a highly conductive, ultralight ceramic proppant.
As a result of its superior weight- to- strength ratio, OxFracTM promises to increase oil and gas recoveries, especially when working with unconventional assets such as shale, coal bed methane and tight gas. The product will be commercially available in 2009, and modelling suggests that it could increase initial production by up to 100 percent and shallow production decline by up to 15 percent, thus, improving total recovery and reducing total well costs per play.
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| Fund | Energy Ventures III Argentum share 6% |
| Portfolio Company | Oxane Materials |
| Date of Transaction | 2008-12-11 |
| Transaction | Acquisition |
| Seller | |
| Buyer | Energy Ventures |
| Size of Transaction | |
| Ind. Focus | Energy |
| Geography | USA |
| Stage | Venture |