Abstract: A method is described for fracturing a subterranean formation penetrated by a wellbore. A fracturing fluid in the form of a mixture of liquid carbon dioxide and a liquid hydrocarbon component of specific characteristics is injected down the wellbore under pressure to cause fracturing. The hydrocarbon component contains at least 70 wt. % of C.sub.5 -C.sub.14 constituents and at least 8 wt. % aromatics and has an average molecular mass of less than 200, a pour point of less than -40.degree. C. and a density of from 0.77 to 0.85 g/ml at 15.degree. C. This hydrocarbon component provides a higher viscosity than the liquid carbon dioxide at lower temperatures and is also an excellent solvent, simplifying clean-up. The novel fracturing fluid may also contain the usual proppants.