UYMG News
On Track Technology Announces Development Of New Oil Pump System
2012-08-27 08:00 ET - News Release
EAST HANOVER, N.J., Aug. 27, 2012 /PRNewswire/ -- Unity Management Group (OTC Pink: UYMG), a business resource and service company, is pleased to announce its wholly owned subsidiary, On Track Technology Solutions Inc.(OTT), has successfully completed its prototype pumping system, which is known as the NG Pumping System. OTT has been working diligently with its engineers to complete the NG Pumping System prototype on time and on schedule. The NG Pumping System is a green energy friendly system that can work with new wells or assist in the efficiency of stripper wells.
OTT President, Eddie Schilb said, "We believe over the next 30 to 60 days we will be applying for our patent pending and installing the prototype. This unit should reduce installation costs by 60% over a new install of traditional equipment while reducing the labor costs of installation by 50% compared to a new install of traditional equipment." Mr. Schilb continued, "We also believe the NG Pumping System will reduce work over cost of Maintenance/replacement pumps by 45% and reduce daily operating cost by 50%. Our NG Pumping System is a hydraulic system as opposed to the traditional equipment that is a gear unit system. The NG Pumping System also prevents noise pollution and has shown a significant impact on improving safety for workers, livestock, and landowners. We believe the market place will warmly welcome this product based on the economics alone."
"With expected sales of 5,000 units the first year, with a cost range between $5500.00, and $77,00.00, depending on the well depth, this system could revolutionize the way Operators produce oil and gas," said Ayo Odetunmibi Vice President and staff Engineer. With just the 340,000 stripper wells in the US, the possibilities of Services, Joint Ventures and owner operator are very large numbers. The numbers are even greater when one considers the other wells in the US.
