A wellbore fluid is an aqueous carrier liquid with first and second hydrophobic particulate materials suspended therein. The first hydrophobic particles have a higher specific gravity than the second hydrophobic particles and the fluid also comprises a gas to wet the surface of the particles and bind them together as agglomerates. The fluid may be a fracturing fluid or gravel packing fluid and the first particulate material may be proppant or gravel. The lighter second particulate material and the gas both reduce the density of the agglomerates which form so that they settle more slowly from the fluid, or are buoyant and do not settle. This facilitates transport and placement in a hydraulic fracture or gravel pack. One application of this is when fracturing a gas-shale with slickwater. The benefit of reduced settling is better placement of proppant so that a greater amount of the fracture is propped open.