Capstone Secures 2MW Follow-on Order for Shale Operations in Eagle Ford Play
CHATSWORTH, Calif., July 16, 2015 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, announced today that it received a follow-on order for two C1000 microturbines to be installed at Eagle Ford shale operations in south Texas.
Horizon Power Systems, Capstone's exclusive oil and gas distributor for the Eagle Ford, Permian, Barnett, Mancos, San Juan, and Wattenberg shale plays, secured the order to support the growth of shale gas production in the United States. Both C1000 microturbines will provide primary power to compression stations operating in the Eagle Ford shale play and run on natural gas produced on site. The project is expected to be commissioned in November 2015.
According to the U.S. Energy Information Administration (EIA), the southeastern part of the Eagle Ford shale play includes a wider depth distribution of wells and produces more gas relative to oil. Capstone microturbines are the ideal solution for high volume oil and gas producers in this region because they ensure reliable energy distribution so that oil and gas businesses can operate at a higher rate of return.
Capstone microturbines can be used in all phases of oil and gas production including upstream, midstream, and downstream operations in both onshore and offshore applications. Remote oil and gas sites, in particular, benefit from highly reliable and proven technology without the cost of extending the local power grid.
"It is repeat business like this that helps to solidify Capstone microturbines as an innovative energy solution for oil and gas customers around the world," said Jim Crouse, Executive Vice President of Sales and Marketing at Capstone Turbine. "Capstone can easily meet the needs of our customers by helping them to reduce their energy costs and working together towards lower emissions profiles and energy independence," added Crouse.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 8,500 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, United Kingdom, Mexico City, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about the advantages of our products and use of our products in oil and gas applications. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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Released July 16, 2015