Ecosphere Technologies Inc. (ESPH.OB) Announces Water Recycling Program with Devon Energy
Source: http://Blog.QualityStocks.net/?p=11589Posted on Wednesday, August 6th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Ecosphere Technologies Inc. (ESPH.OB) is a diversified water engineering and services company primarily focused on the natural gas industry. The company provides water recycling services at the well site to provide clean water for energy companies to extract natural gas from unconventional shale plays.
With increasing demand and decreasing supplies of oil and gas, companies are looking to bring on new supplies whereever they can. Many of these new hydrocarbon sources are locked in geologically challenging enviornments which call for using unconventional solutions. Ecosphere Technologies bring to their customers advanced water recycling technologies and expertise to increase energy production, reduce well completion costs, and protect the environment.
On August 6, 2008 Ecosphere Techologies announced that the company’s water recycling program with Devon Energy was recently approved by the Texas Railroad Commission. This project will be located in the Barnett Shale region of Texas. Following the Texas Railroad Commission’s approval, the company shipped a mobile, high-volume, 300,000 gallon-per-day Ecosphere Ozonix unit to Devon Energy on August 4, 2008.
The project, using the Ecosphere Ozonix unit, will use a pre-treatment process to remove waste constituents before the water is run through a series of membranes to remove salts. The process will also treat produced water that is released along with the natural gas from the shale. The water treatment system is projected to produce 75% reusable fracture fluid and 25% concentrate and solids. The concentrate will be used as a drilling fluid or disposed of in an authorized facility.
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