Vertice Oil Tools on Oil and Gas Startups Oil and Gas Startups Podcast

Vertice Oil Tools was founded in 2018 to commercialize a limitless sliding sleeve design, but pivoted to developing frac plugs and refrac liner tools as sliding sleeves lost market share to plug-and-perf operations.Their key product is a hydraulically disconnecting refrac liner that enables zonal isolation for refracturing existing wells. This liner tool significantly reduces costs and time compared to traditional cut-and-pull refracking methods.The company uses data analytics to help operators identify good candidate wells for refracs by modeling expected production uplift based on offset well data and known geology/reservoir characteristics.Refracking activity is seeing adoption growth, especially in the Eagle Ford, Haynesville, and Bakken basins. The refrac market is expected to grow from around 150 jobs in 2022 to 300-400 in 2023.Refracing economics are being improved through techniques like tying refracs to new frac operations on multi-well pads to share crew costs. Using remote frac lines run thousands of feet from active frac spreads is also being explored to reduce costs for single well refracs.
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