Aqua-Pure Ventures, Inc. and Select Energy Activate Joint Venture Following Highly Successful ROVER Commercial Launch
03 9월 2013 - 9:00PM
Business Wire
Aqua-Pure Ventures Inc. (“Aqua-Pure” or the “Company”) (TSXV:
AQE), a premier recycler of oil field and shale gas wastewater,
today announced that its wholly-owned subsidiary Fountain Quail
Water Management (“Fountain Quail”) and Select Energy Services
(“Select”), a leading water solutions and oilfield service company,
have agreed to activate their exclusive joint venture as a result
of a successful oil and gas wastewater recycling project with one
of the most active operators in the Permian Basin. Over a two month
period, Fountain Quail’s ROVER in its first commercial launch,
processed approximately 300,000 barrels of produced water,
delivering clean salt water to be used in the fracturing of four
new wells. In addition to the normal clarification process, H2S
that was present in the produced water was reduced to undetectable
levels.
The Fountain Quail – Select joint venture will be operated
through a new company, FQS Venture, LLC (“FQS”), and combines the
industry’s leading recycler of oilfield wastewater with one of the
industry’s foremost authority on water solutions and wellsite
services. FQS is situated to become a formidable player in the
wastewater treatment industry, capable of servicing multiple
operators in virtually every shale and conventional oil and gas
play across North America. The joint venture includes an exclusive
licensing agreement that is now effective and will continue as long
as certain annual milestones are met by the joint venture. Under
the terms of the agreement Fountain Quail will contribute its
equipment and technological expertise for which it will earn a
royalty stream, and Select will provide capital to acquire and/or
construct additional recycling equipment, while both parties
provide business development support to FQS. Select will also use
its best efforts to help Fountain Quail fund its operational
obligations.
Mike Howdeshell, Select Energy Services Vice President of
Fluidity commented, “The efficiency and cost-effectiveness
demonstrated by the ROVER, coupled by the capability of the
Fountain Quail organization, convinced us to immediately activate
our joint venture arrangement for the mutual benefit to both our
Companies. We have vetted and piloted numerous technologies for
clarification of salt water, and ROVER proved the most effective
and consistent under all variations of conditions. It is the
perfect fit for our Fluidity portfolio of solutions. To effect the
launch of FQS, Select effectively purchased half of the first ROVER
which is now in operation.”
Fountain Quail’s ROVER mobile clarifier package is a rugged,
durable in-field technology designed for primary treatment of shale
gas and oil flowback water at or near the source. The
self-contained system with its small footprint (only 30’x50’) can
treat up to 10,000 barrels of flowback and produced water per day,
addressing some of the most pressing challenges faced by operators
in unconventional plays across North America. The clean brine
produced by the ROVER can be re-used in a broad range of drilling
operations.
Richard Broderick, head of business development for Aqua-Pure
and Chairman of the joint venture commented, “The combination of
the ROVER and our already successfully commercialized NOMAD, a
mobile thermal distillation unit that produces fresh water for
reuse at the well site, provides highly effective and
cost-efficient recycling solutions to address contaminated flowback
and produced water. While the NOMAD has a long history of strong
performance, it was the ROVER on its first commercial project that
surpassed expectations with its ease of installation and solid
performance. The seamless combination of Select’s project
coordination and management, containment, trucking and transfer
services, along with the ROVER treatment process was evident. The
validation achieved from the two-month commercial project has
solidified our joint venture with Select and provided a convincing
reference for future opportunities.”
For more information, please contact: info@aqua-pure.com or:
Jacob T. Halldorson Karim Teja
Yvonne Zappulla Chief Executive Officer Chief Financial
Officer Grannus Financial Advisors, Inc. (403) 301 4123 ext 27
(403) 301 4123 ext 26 (212) 681-4108
About Aqua-Pure Ventures
Inc.
Aqua-Pure (www.aqua-pure.com) is the premier recycler of
industrial wastewater in North America. The Calgary-based oilfield
engineering and services firm has developed and commercialized
cutting-edge technology that transforms wastewater from a liability
to an asset. Aqua-Pure's municipal and oil and gas wastewater
services and technology solutions ensure environmental
sustainability through the utilization of patented and proprietary
technologies. The Corporation's common shares are listed on the TSX
Venture Exchange under the trading symbol "AQE."
About Select Energy
Services
Houston-headquartered Select Energy Services, LLC, (Select)
is an industry leader in delivering innovative and efficient
end-to-end water solutions and well-site services to energy
producers through its two business segments WaterOne™ and WellOne™
and its multi-service integrated water solutions package,
Fluidity™. With more than 5,000 employees and $1 billion in
annualized revenues, Select effectively and safely sources,
transports, tests, treats and disposes of water and fluids from
well sites within every major North American shale play in an
environmentally conscientious manner. For more information,
visit www.selectenergyservices.com
Forward-looking Statements:
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company’s future operations. Forward-looking statements
consist of statements that are not purely historical, including any
statements regarding beliefs, plans, expectations or intentions
regarding the future. Such statements are subject to risks
and uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if
they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management’s current
views and are based on certain expectations, estimates and
assumptions which may prove to be incorrect. A number of
risks and uncertainties could cause our actual results to differ
materially from those expressed or implied by the forward-looking
statements, including: (1) a continued downturn in general economic
conditions in North America and internationally, (2) the inherent
uncertainties associated with the demand for oil and gas,
(3) federal and local government regulations that affect the
oil and gas drilling industries (4) the risk that the Company does
not execute its business plan, (5) inability to finance operations
and growth (6) inability to retain key management and
employees, (7) ; an increase in the number of competitors with
larger resources, and (8) other factors beyond the Company’s
control. These forward-looking statements are made as of the date
of this news release and the Company intends to update such forward
looking information in the Company's MD&A in the event that
actual results differ materially from such forward-looking
statements contained herein. Additional information about
these and other assumptions, risks and uncertainties are set out in
the “Risks and Uncertainties” section in the Company’s MD&A
filed with Canadian security regulators.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The ROVER mobile clarifier package is a rugged, durable,
in-field technology designed for primary treatment of shale gas
flowback water at or near the source. The self-contained system,
which can treat up to 10,000 barrels of flowback and produced water
per day, addresses some of the most pressing challenges faced by
operators in shale gas plays across North America. The ROVER System
consists of a low-profile clarification trailer and an auxiliary
support trailer. Flowback is pumped from the source (e.g., frac
tank, pit) into the unit. Suspended solids and organics are
separated from the solution using clarification and an adjustable
chemical system that addresses the constant variability of shale
water. Solids settle into a collection tank where they are
de-watered while clean brine is pumped out of the system to a
designated location specified by the customer. The clean brine may
be used for a broad range of drilling operations. The system has a
small footprint, requiring only a 30-foot by 55-foot pad. It is
completely selfreliant, with power supplied by a generator if
utility access is unavailable. The ROVER System is DOT-approved for
non-permitted transportation in the U.S. and Canada, and has full
HAZOP (detailed Hazard and Operational Study) certification.
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