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Our main mission is that we make oil and gas wells produce better and increase recovery. And that's something we wake up everyday and talk about and try and build our business around. We do that by improving the effectiveness of fracs. We have the number one frac design software, it's call Fracpro. We have the highest conductivity proppant, we have expert consulting for completely wells, they work for E&P and both in the design as well as sitting on well sites for completions and analysis. And then we have data analysis for field development and that's really a 100,000 foot view we put in things such as geology, the reservoir information, completion information, production information, frac information and we will run it through our neural network and then tell the E&P which factor is causing the greatest impact on production and recovery.So I think all of those businesses are very synergistic, the proppant business is obviously the biggest one by far of all of them. Speaking of the proppant business, we are the world leader in proppant. We have produced the highest quality, highest conductivity ceramic proppant in the world since 1979. We provide the broadest product range of products to fit any reservoir. We are the largest ceramic producer in the world and as you will hear throughout the presentation, ceramic always makes wells produce better and recover more than any other type of proppant. We are growing in resin-coating sand business and we differentiate that business by only coating the Northern White sands which have the highest conductivity. Here is a graph that shows our ceramics sales in the red line as well as our capacity in the bars since 2000. We are really very proud of that, we went from since I have joined the company, we kind of went from 500 million up to 1.75 billion pounds worth of capacity and we did all that while not have taken on any debt. So I don’t (inaudible) companies that can basically triple their company in that time period without taking on debt.
Our value proposition on the ceramic and this is important, we basically say if we use our ceramic proppant versus any sand based proppant, you will see a 20% increase in recovery, production and you will see rapid return on your investment and a very high payout. The uniqueness of CARBO I have mentioned a couple of those, but we have a lot of technical experts, industry experts that teach people about the value of conductivity.We have over 200 SP papers document the value of conductivity and that’s worldwide and we have the light weight ceramics which is really important franchise for us and differentiates us and I am going to talk more about that later. When I said we have the products to cover any reservoir or any range of circumstances, here are the products we have the base products we have. So at the bottom there we have CARBOHSP which is a bauxite and then we have CARBOPROP which is an intermediate density ceramic. The top three are light weights and today we sell about 85% of our sales are light weights and we clearly understand that is the direction that the business needs to go in. And the other thing I would say about our products is that with a move towards liquids rich type of plays, those wells all have multiphase flow and more than anything they need even more conductivity and I always make the example of drinking milk out of a straw or drinking a milkshake out of a straw. Whenever we combine liquids, gas, the various things we call them NGLs, condensates et cetera, it creates little bit of emotion down there. Read the rest of this transcript for free on seekingalpha.com