Third Letter of Intent Signed by Ecosphere Technologies, Inc. (ESPH.OB) for Water Recycling in the Okla. Shale
Source: http://Blog.QualityStocks.net/?p=12260Posted on Wednesday, September 10th, 2008 | In Small & Micro Cap
Ecosphere Technologies, Inc. (OTCBB: ESPH) announced a partnership with Newfield Exploration Mid-Continent to reclaim otherwise potentially troublesome water. Newfield will continue its exploration for crude oil and natural gas but will work with Ecosphere to explain to state agencies what the water recycling program does and work through the permitting process. To recover and recycle the water in conjunction with digs for other resources, Ecosphere uses its Ozonix mobile technology.
Ecosphere is already building the mobile equipment that will be needed for a potential November start-up. This will be the third such water-recycling venture announced in the last three months in the same Woodford Shale area of Oklahoma.
“We are very excited to be able to work with Newfield Exploration to recycle water resources in Oklahoma,” said Ecosphere President Dennis McGuir, “and to be able to be part of preserving these precious resources for future generations.”
Newfield chiefs are equally impressed by the company they’ll be working closely with in coming years.
“We have visited Ecosphere’s headquarters and also their field operations and have seen the results first hand of how their process works for treating flowback and produced waters,” Newfield’s Operations Project Leader Mike O’Kelley, said, “To be able to recycle these waters at the well site is a breakthrough for the natural gas industry. When you can reduce your environmental footprint and reduce your costs at the same time everybody wins.”
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crude oil, Dennis McGuir, Ecosphere Technologies Inc., Mike O Kelley, Mobile Technology, Natural Gas, natural gas industry, Newfield Exploration Mid, Oklahoma, Ozonix mobile technology, Small & Micro Cap, start-up
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