Nuverra Environmental Solutions, Inc. Contracts with Halliburton on H20 ForwardSM Water Treatment &
Nuverra Environmental Solutions, Inc. Contracts with Halliburton on H20 ForwardSMWater Treatment & Recycle Initiative
SCOTTSDALE, Ariz.--(BUSINESS WIRE)-- Nuverra Environmental Solutions, Inc. (NYSE: NES) ("Nuverra") today announced that it has entered into an agreement with Halliburton (NYS: HAL) to advance the treatment and recycling of produced water to be re-used in the hydraulic fracturing process.
"We are excited about this new agreement with Halliburton. Maximizing the treatment and recycling of water used in hydraulic fracturing is a key initiative for the industry and an area of strategic focus for our company as we expand our environmental treatment and recycling solutions," said Mark D. Johnsrud, Nuverra's Chief Executive Officer.
"We will be working closely with Halliburton in the Bakken Shale to utilize their H20 ForwardSM Service for water re-use and recycling. We believe this agreement will further expand our full-cycle, closed-loop environmental solutions package. Halliburton is one of the world's leading technology providers to the oil and gas industry, and we are honored to be in agreement in this water treatment and recycling initiative," said Johnsrud.
H20 ForwardSM Service allows customers to recycle waste streams of produced water for use in well completions. The service formulates stable fracture fluids that have the ability to work with any waste stream, including water containing total dissolved solids with values as high as 285,000 parts per million, for use in hydraulic fracturing operations.
To date, Halliburton has completed more than 60 wells and 280 fracturing stages in the Permian and Bakken using the H20 ForwardSM Service, which significantly reduces the amount of fresh water required in hydraulic fracturing.
"Our goal is to help the industry use less fresh water. We have advanced the technology but understand that logistics remains a challenge. By working with Nuverra, we are confident we can help reduce the fresh water used for any customer with net economic and environmental benefits under the H20 Forward initiative," said Walter Dale, Halliburton's Strategic Global Business Manager for Water Solutions.
Nuverra and Halliburton will work together in the Bakken Shale area to offer the H20 ForwardSM Service to exploration and production companies. For hydraulic fracturing operations conducted by Halliburton using the H20 ForwardSM Service, Nuverra will provide the logistics, transportation, storage, and overall fluid management.
About Nuverra Environmental Solutions, Inc.
Nuverra is an environmental solutions company. The Company is one of the largest companies in the United States dedicated to providing comprehensive and full-cycle environmental solutions to our customers in energy and industrial end-markets. Nuverra focuses on the delivery, collection, treatment, recycling, and disposal of restricted solids, water, waste water, used motor oil, spent antifreeze, waste fluids and hydrocarbons. The Company continues to expand its suite of environmentally compliant and sustainable solutions to a collection of customers that demand stricter environmental compliance and accountability from their service providers.
Interested parties can access additional information about Nuverra on the Company's web site at http://www.nuverra.com, and in documents filed with the United States Securities and Exchange Commission, on the SEC's web site at http://www.sec.gov.
Founded in 1919, Halliburton is one of the world's largest providers of products and services to the energy industry. With more than 72,000 employees, representing more than 140 nationalities in approximately 80 countries, the company serves the upstream oil and gas industry throughout the lifecycle of the reservoir - from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field. Visit the company's website at www.halliburton.com.
This press release may contain "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in the press release include, without limitation forecasts of growth, revenues, adjusted EBITDA and pipeline expansion, and other matters that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: difficulties encountered in acquiring and integrating businesses, including Thermo Fluids Inc. and Badlands Power Fuels, LLC; whether certain markets grow as anticipated; and the competitive and regulatory environment. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2012, the Current Report on Form 8-K filed on April 10, 2012, the Current Report on Form 8-K/A filed on February 11, 2013, as well as the Company's other reports filed with the United States Securities and Exchange Commission, including the Company's Proxy Statement filed on October 9, 2012, and are available at http://www.sec.gov/ as well as the Company's web site at http://nuverra.com/. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. All forward-looking statements are qualified in their entirety by this cautionary statement. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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