Liberty Oilfield Services Inc (NYSE: LBRT) finished Liberty’s digiFrac electric pump field testing. Its ST9 commercial equipment division developed a digiFrac electric pump.
The custom-built digiFrac electric pump features lower emissions and high power density compared to the latest frac technology in the market.
Liberty carried out rigorous field testing of digiFrac on a three-well pad for 24 hours for a Delaware Basin, West Texas-based E&P partner. It demonstrated 10% pumping capacity at the site and ideal for commercial use.
The company carried out field testing after three years of rigorous R&D to develop the digiFrac pump. It has a facility to utilize electric power from the grid or a centralized generation.
Liberty’s CEO, Chris Wright, said it accomplished a milestone by completing digiFrac pump field test. It also shows the commitment of Liberty to continue with ESG technologies innovation. It is the advanced system available in the market and allows customers to control the operation while improving efficiency. At the same time, the pump confirms to lower emission standards.
The digiFrac allows precision control. It will be a game-changer in future applications.
Recro Pharma Inc (NASDAQ: REPH) Expands Team To Support Technical Operations And Business Development
Recro Pharma Inc (NASDAQ: REPH) inducted new employees to support technical operations, business development, and specific strategic initiatives.
The board of directors of Recro Pharma involved in the compensation committee granted inducement stock options to the new employees.
The new employees can purchase a maximum of 91,830 shares of Recro common stock.
Also, the new employees are eligible for restricted stock units that cover 15,000 shares of its common stock. The inducement grants are as per the NASDAQ inducement grant exception for new employees under Listing Rule 5635(c)(4).
The contract development and production organization – Recro Pharma engages in solving manufacturing and complex formula challenges for firms that develop OSDD (oral solid dose drug) products.
Inducts Laura L. Parks into the director board
Recro Pharma appointed Laura L. Parks to its board of directors on June 16, 2021. Parks is experienced in developing market-focused and high-performance teams for the food, biopharma, and contract development and manufacturing companies worldwide.