Water-Stocks.com Reports on Opportunity for Remediating Oil-Contaminated Water
Remediation Developments From Cameron Intl. Corp., General Electric, Nalco, National Oilwell Varco, Veolia, Wescorp Energy (OTCBB: WSCE) and Weatherford International
POINT ROBERTS, WA and DELTA, BC--(Marketwire - August 12, 2009) - www.Water-Stocks.com, an
investor and industry portal for the water sector within
www.InvestorIdeas.com, presents a water sector report by Lisa Springer,
CFA, equity research analyst, on the market opportunity for remediating
oil-contaminated water.
Market Opportunity Remediating Oil-Contaminated Water
Lisa Springer, CFA
Excerpt:
Although oil spills capture headlines, a greater environmental challenge
for the oil and gas industry is remediating water polluted in their
production operations. Water that comes up with the production of oil and
gas is called "produced water." Produced water is tainted with hydrocarbon
solids, sand, drill cuttings and salts. Oil companies spend an estimated
$50 billion every year remediating and/or disposing of produced water to
comply with local, state, provincial and federal environmental laws.
Remediation costs for produced water are likely to continue to rise because
regulators are pressing for more stringent environmental laws.
The management of produced water is a large market and several companies
are marketing technologies for cleaning produced water. The Petreco Wemco
division of Cameron markets a heat treatment technology that separates
hydrocarbons from water. National Oilwell Varco manufactures and sells
equipment that mechanically removes suspended solids from produced water.
Nalco offers an aeration technology called Induced Gas Flotation that
removes suspended particles from water. Privately-held Welco Expediting and
Process Group market centrifuging technologies for cleaning produced water.
The GE Zeon segment of General Electric, Siemens Water Technology and
Veolia offer treatment methods based on filtering membranes. Although all
of the above-mentioned methods remove some of the pollutants most single
technologies leave behind residential oil content ranging from 500 to
50,000 parts per million in the water. Having residual hydrocarbon in their
produced water has a major impact on producers' operating expenses.
Wescorp Energy (OTCBB: WSCE) recently began marketing a novel remediation
technology called H20Maxx, which the company claims offers a safer, more
effective and economical process for cleaning and separating oil and solids
from produced water. H20Maxx employs a patented aeration technology that
creates microscopic nitrogen bubbles several orders of magnitude smaller
than conventional methods. These bubbles attach to oil droplets and break
the oil/water interface, allowing oil to be separated. Third party
laboratory tests have shown that H20Maxx reduces oil content in produced
water to less than 10 parts per million. Because H20Maxx-treated water is
more hydro carbon-free, it dramatically reduces both operating costs and
water consumption and also provides the producer with a resalable oil
stream. For producers operating in areas where water is in short supply
such as the Barnett Shale and Alberta Oil Sands, the ability to re-cycle
water is a major advantage.
Oil and gas producers recognize the benefits of H20Maxx and have begun
using Wescorp's technology. Last December, Wescorp received 3rd party
verification of the H20Maxx's efficiency and scalability, which led to the
signing of a letter of intent with Weatherford International.
In June, Wescorp announced the leasing of an H20Maxx unit to Western
Canadian Oil Sands, which plans to deploy the unit at its Athabasca Oil
Sands operations in Northern Alberta. In late July, Wescorp announced a
50/50 joint venture with Cancen Oil Canada Corporation to initially install
a combined 12 H20Maxx water units and HXCT solids units over the next 12
months at Cancen's facilities.
Full report: http://www.investorideas.com/News/081109c.asp
Lisa Springer Bio/Disclaimer:
http://www.investorideas.com/About/Lisa-Springer-CFA/
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