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CALGARY, Feb. 19 /CNW/ - Deepwell Energy Services Trust (Deepwell) is
pleased to announce the opening today of its new state-of-the-art oilfield
waste management facility near Claresholm, Alberta.
"The addition of the Claresholm facility is an important step in
Deepwell's growth strategy and position as a leading provider of oilfield
waste management services in Western Canada," comments Robert Dodds,
Deepwell's President and Chief Executive Officer.
The Claresholm facility will process, recover and dispose of upstream
oilfield waste generated at any point from drilling through production. It has
been approved by the Alberta Energy Resources Conservation Board for oilfield
waste processing, Class Ib fluid disposal and custom treating activities.
Claresholm will also offer tank and truck washing services.
The Claresholm facility is located approximately 11 km east of
Claresholm, Alberta; detailed driving directions are available on Deepwell's
website at www.deepwellenergy.com. This is an active region of oil and natural
gas production and exploration which was not previously served by any
third-party oilfield waste management provider in the local area.
Claresholm has the highest design capacity for waste processing among
Deepwell's four facilities. The facility was designed and constructed to
minimize turnaround time for Deepwell's customers and achieve high efficiency
in processing wastes. Deepwell anticipates that final construction costs will
near the previously disclosed estimate of $9 million.
Deepwell is a growth-oriented income trust that provides oilfield waste
management services to the upstream petroleum and natural gas industry and a
current monthly distribution to its investors of $0.06 per unit. Deepwell now
operates from four locations across Alberta and currently employs 44 persons.
The units of Deepwell trade on the Toronto Stock Exchange under "DWL.UN".
Additional information about Deepwell is available at www.sedar.com and
on Deepwell's website at www.deepwellenergy.com.
Certain statements in this press release constitute "forward looking"
statements that involve known and unknown risks, uncertainties and other
factors that may cause the actual results, performance or achievements of
Deepwell or its subsidiaries, or industry results, to be materially different
from any future results, performance or achievements expressed or implied by
such forward looking statements. Forward looking statements involve
significant risks and uncertainties, should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether or not such results will be achieved. A number of
factors could cause actual results to differ materially from the results
discussed in the forward looking statements.
For further information:
For further information: Deepwell Energy Services Trust, Email:
email@example.com, Robert Dodds, President and CEO, (403) 508-6001;
or Scott Gerecke, Vice-President Finance and CFO, (403) 508-6005