CALGARY, Oct. 16 /CNW/ - Ferus Inc. is pleased to announce that it is
constructing a new state-of-the-art carbon dioxide ("CO2") liquefaction plant
in Fort Saskatchewan, Alberta. The facility's location in north-central
Alberta will enable Ferus to efficiently deliver liquid CO2 to developing
energy resource plays in north-western Alberta and north-eastern British
Columbia. The facility will capture gaseous CO2, a by-product of nearby
refining processes, liquefy and store it for sale and transport to Ferus'
energy industry customers. Commercial operation of the facility is expected
to commence in the summer of 2009.
"The construction of this facility demonstrates Ferus' commitment to
meeting our customers' needs for cryogenic products and logistics services,"
said Richard Brown, President & CEO of Ferus Inc. "With the completion of this
plant, our fourth CO2 liquefaction facility in Alberta, and the recent
expansion of our northern CO2 facility, we see ourselves as being well
positioned to deal with the current demand for liquid CO2 in western Canada,
most notably in the northern resource plays. As we look down the road, we see
demand continuing to increase for our products and services in these areas and
accordingly, our energies will remain focused on opportunities that facilitate
our efforts to be the predominant supplier of cryogenic products and logistics
services to the energy industry."
In August 2008 an affiliate of NGP Midstream & Resources, L.P. acquired
Ferus. Ferus Inc. is a privately-held company providing integrated solutions
to the energy industry for well stimulation, well completions and enhanced oil
recovery applications. Ferus provides a dedicated supply of cryogenic fluids,
as well as the related logistical services to deliver those products to its
customers in the energy industry. Ferus' primary product and service lines
include liquid carbon dioxide (CO2), liquid nitrogen (N2), transportation,
storage and logistics and on-site services. Ferus currently owns and operates
five cryogenic plants, which are strategically located across Alberta as well
as a fleet of over 150 transportation and storage assets, which are
specifically designed for oilfield operations.
NGP Midstream & Resources is a U.S.-based private equity fund established
in February 2007 to make direct investments in selected areas of the energy
infrastructure and natural resources industries, with a particular emphasis on
investments in the midstream energy infrastructure sector. NGP Midstream &
Resources has investment commitments totaling $1.4 billion. NGP Midstream &
Resources is affiliated with NGP Energy Capital Management LLC. NGP Energy
Capital is a $7.7 billion firm based in Irving, Texas that invests in all
sectors of the energy industry.
For further information:
For further information: Richard Brown, President and CEO, Ferus Inc.,
Telephone: (403) 517-8777, Toll Free: (866) 401-6861, Facsimile: (403)
206-6195, E-mail: email@example.com