$XFLS Cycle Energy Industries Increases its Fleet and Purchases New Well Abandonment Equipment CYCLE ENERGY SERVICES BUYS THREE NEW HEAVY VEHICLES
CALGARY, ALBERTA / ACCESSWIRE / June 16, 2020 / Cycle Energy Industries Inc. (OTC PINK:XFLS) is pleased to report its wholly owned subsidiary Cycle Energy Services (CES) has purchased 3 new heavy vehicles for its well abandonment fleet.
The purchase now gives Cycle the ability to work on 3 simultaneous sites concurrently without having to share or reschedule equipment.
Mr. Michael McLaren CEO states "The purchase of this equipment allows us to be in 3 places at once increasing our daily ability to produce revenue as well as efficiently abandon well sites in a timely fashion without having to share or reschedule equipment to and from sites." Mr. McLaren also stated " Our business plan with CES has always been to rig onto a well site complete the work and rig out without any further work or equipment needed." "Mr. McLaren further stated "By reducing the amount of equipment and travel time between sites we continue to strive to ease the cost of well abandonment as well as greatly diminish the carbon footprint to complete the work."
The vehicles two HydroVac units and a Picker unit valued at over $300,000 will complement our existing Combo Service Rig units. The HydroVac units will be modified with Cycles Energy Technologies wireless flow testing equipment as well as our high-pressure pump for downhole pressure testing and ultra-high press water jet cutting unit for well head removal.
https://finance.yahoo.com/news/cycle-energy-i...00096.html
CALGARY, ALBERTA / ACCESSWIRE / June 16, 2020 / Cycle Energy Industries Inc. (OTC PINK:XFLS) is pleased to report its wholly owned subsidiary Cycle Energy Services (CES) has purchased 3 new heavy vehicles for its well abandonment fleet.
The purchase now gives Cycle the ability to work on 3 simultaneous sites concurrently without having to share or reschedule equipment.
Mr. Michael McLaren CEO states "The purchase of this equipment allows us to be in 3 places at once increasing our daily ability to produce revenue as well as efficiently abandon well sites in a timely fashion without having to share or reschedule equipment to and from sites." Mr. McLaren also stated " Our business plan with CES has always been to rig onto a well site complete the work and rig out without any further work or equipment needed." "Mr. McLaren further stated "By reducing the amount of equipment and travel time between sites we continue to strive to ease the cost of well abandonment as well as greatly diminish the carbon footprint to complete the work."
The vehicles two HydroVac units and a Picker unit valued at over $300,000 will complement our existing Combo Service Rig units. The HydroVac units will be modified with Cycles Energy Technologies wireless flow testing equipment as well as our high-pressure pump for downhole pressure testing and ultra-high press water jet cutting unit for well head removal.
https://finance.yahoo.com/news/cycle-energy-i...00096.html
