Chord Energy invests in MaverickX shale recovery technology

(WO) — Chord Energy has made a strategic investment in MaverickX to support deployment and commercialization of PetroX Boost, a shale production enhancement technology aimed at improving hydrocarbon recovery from unconventional wells.

The funding round also included participation from existing investor Olive Tree Capital.

According to MaverickX, the investment will support continued development of PetroX Boost as well as additional field deployments across Chord-operated assets in the Bakken shale.

The company said PetroX Boost is designed to improve hydrocarbon mobility and reservoir performance in tight formations by addressing clay-related swelling and flow restrictions that can limit recovery rates in shale reservoirs.

MaverickX said early core sample testing showed recovery improvements of up to 20%, though broader field deployment and validation efforts remain ongoing.

“We are constantly evaluating the newest technologies in the market, and PetroX from MaverickX is one of the more promising solutions we’ve seen,” said Jason Swaren, senior vice president of production at Chord Energy.

The companies said the collaboration will provide MaverickX with operational feedback and field deployment opportunities intended to accelerate optimization and commercialization of the technology.

The investment comes as operators across major U.S. shale basins continue seeking technologies capable of improving recovery factors and extending productivity from existing unconventional wells.

Earlier this month, MaverickX announced expanded production capacity at a new facility in Pleasanton, Texas, as demand grows for its shale production enhancement product line.