Fraccing is a process that uses high-pressure fluids to force the layers of shale apart. Carried in the fluid are tiny grains of “proppant” – sand or ceramic spheres – that hold the layers of shale open after the pressure from the fluid fades. It’s the proppant that makes the whole technique work. You don’t have proppant, the gas and oil doesn’t flow.
As the global leader (37% market share) in proppant manufacturing, Carbo is a pure “picks and shovels” play on the ongoing natural gas boom. In 2005, Carbo’s annual revenue totaled $231 million. In 2009, revenues totaled $342 million… a 48% increase in just four years.