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Prime Meridian Resources ("PMR") is focused on building a globally integrated proppants company.
Unconventional oil and gas exploration has a bright future, globally:
- The global volume of shale gas and coalbed methane resources is currently estimated to 8,000 to 9,000 Tcf -- equivalent to about 51% of global gas resources (Source: Total).
PMR is focused on frac sand in North America and ceramic proppants in India, the Middle East, Australia and Africa (Indian Ocean region):
- US Proppant market is 90% frac sand by volume while frac sand is not plentiful in the regions surrounding the Indian Ocean.
- In the Bakken the current well density will require a total of 115.5 billion pounds of proppants (Lukoil) and 2015 US total consumption is projected at 83 Billion pounds versus 51 billion pounds consumed in 2011 (Pacwest).
PMR is positioned through the value chain: raw materials, production and R&D and has a strong management team with in-region experience backed by world-class materials science.