OOIL Teams Up to Challenge Halliburton’s Costs f
Post# of 25327
[b]OOIL >>Teams Up to Challenge Halliburton’s Costs for Cleaning Produced Water and Frack Water[/b]
2013-03-13 03:01 ET - News Release
PearlH2O’s FRACK-BACK system which integrates OriginOil’s CLEAN-FRAC technology is projected to achieve breakthrough 2.5 cents per gallon water treatment operating cost
Company Website: http://www.originoil.com
LOS ANGELES -- (Business Wire)
OriginOil, Inc. (OTCBB: OOIL), the developer of a breakthrough energy production process for the oil and algae industries, teamed up with its first licensee, PACE spinoff PearlH2O, to challenge industry giant Halliburton’s published costs for cleaning flowback water for reuse in wells.
“Halliburton reported on its cost to operate their CleanWave system in the Haynesville shale in 2011, which comes to four cents per gallon of water treated,” said Riggs Eckelberry, OriginOil CEO. “But based on its experience in the Eagle Ford Formation in southeast Texas, PearlH2O estimates it can achieve operating costs as low as 2.5 cents per gallon by integrating our CLEAN-FRAC™ technology, with potentially much better results than CleanWave. We believe this is a revolution in the making for the oil industry and we look forward to scaling up with our partner, PearlH2O.”
“Halliburton’s achievement of 95-99% removal of Total Suspended Solids, Total Hydrocarbon, Iron and Heavy Metals is just the starting point for our own FRACK-BACK™ process,” said Andy Komor, VP Environmental Water at PACE. “In addition, our tests have shown we can achieve substantial removal of hardness and dissolved organics.”
“As a bonus,” added Bill Charneski, General Manager of OriginOil’s Oil and Gas Division, “we believe we can achieve near-total bacteria removal, which for Halliburton requires an entirely separate process, Clean-Stream. All of this for a cost much lower than Halliburton’s CleanWave alone. Clearly, we can offer a completely new value proposition and we invite the oil and gas industry to try us out.”
Cory Severson, President of PearlH2O, went on to say, “Our projected cost analysis is based on 30 years of experience in designing and operating water treatment systems. Furthermore, and perhaps most significant, is that the projected costs do not take into consideration potential revenue from the sale of treated water or recovered oil. We believe that reusing or selling treated water creates a compelling economic incentive that should shift the mentality of the industry from disposal to recycling.”
Eckelberry also commented on the environmental benefits of the technology: ”Recycling of produced and frack water not only makes economic sense, it is the right solution for the environment and for local economic development. Reusing produced and frack water will benefit an increasing number of areas where fresh water is scarce. In addition, recycling allays contamination concerns that have resulted from evaporation ponds or disposal wells.”
OriginOil’s CLEAN-FRAC system is a chemical free, continuous process that employs low-energy technologies to decontaminate frack or produced water onsite at the oil field. It is designed to integrate with systems like PearlH2O’s FRACK-BACK that can purify oil and gas process water to enable reliable recycling of produced and frack flowback water.
Recent field trials outside Bakersfield, California, indicated that organics, measured by Chemical Oxygen Demand (COD), were reduced by as much as 99%. And Total Suspended Solids (TSS), also known as turbidity, were reduced by as much as 98%. A video documenting this success is available at www.vimeo.com/60586952.
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About OriginOil, Inc.
OriginOil has developed an energy production process for harvesting algae and cleaning up oil & gas water. Operating at the first stage of extraction, this high-speed and chemical-free process can be embedded in other systems to improve performance. Originally invented to solve the biggest problem in algae production, it is now finding demand in oil and gas fracking and production water cleanup, an immediate and fast-growing market that desperately needs clean technology solutions. To learn more about OriginOil®, please visit our website at www.originoil.com.
Safe Harbor Statement:
Matters discussed in this update contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this update, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with our history of losses and our need to raise additional financing, the acceptance of our products and technology in the marketplace, our ability to demonstrate the commercial viability of our products and technology and our need to increase the size of our organization. Further information on the Company's risk factors is contained in the Company's quarterly and annual reports as filed with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Abstract
Two California startups team up to challenge Halliburton’s costs for cleaning produced water and frack water; PearlH2O’s FRACK-BACK system which integrates OriginOil’s CLEAN-FRAC technology is projected to achieve breakthrough 2.5 cent per gallon water treatment operating cost
Key Words
originoil, originoil inc, ooil, origin oil, oil & gas technology, oil & gas cleanup, frac water cleanup, solids out of solution, clean-frac, algae appliance, Riggs Eckelberry, frac cleanup, hydraulic fracturing cleanup, produced water cleanup, invest algae, invest oil & gas, new oil, algae oil, renewable oil, algae biofuel, chemical free process algae, algae commercialization, algae harvesting, renewable crude oil, algae extraction, Bill Charneski, Clean-Frac, Clean-Frack, PACE, PearlH2O, FRACK-BACK, Andy Komor, Halliburton, Cory Severson, TSS
Contacts:
Press Contact:
Antenna Group – a Beckerman Company
Jerry Schranz
201-465-8020
jerry@antennagroup.com
or
Investor Relations:
OriginOil
Tom Becker
Toll-free: 877-999-OOIL (6645) Ext. 3
International: +1-323-939-6645 Ext. 3
Fax: 323-315-2301
ir@originoil.com
www.originoil.com
Source: OriginOil, Inc.
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