Capstone Turbine Corporation Receives Order for 18 C65s for Prominent Oil & Gas Developer in Eagle Ford Shale Play
CHATSWORTH, Calif., Aug. 23, 2010 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com ) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, recently received an order for 18 C65 microturbines for one of the world's largest independent oil and natural gas companies.
Capstone distributor Pumps & Service received its second order in the past eight weeks from a major oil and gas company exploring large shale reserves -- or plays -- in the United States. The market for Capstone turbines and microturbines in this industry is vast. The market is expected to grow substantially, especially since the U.S. Environmental Protection Agency's (EPA) Clean Air Act has strict requirements for emissions levels at natural gas sites.
The 18 low-emission C65 microturbines will provide prime power to central processing facilities and metering stations at remote well sites in the Eagle Ford shale play in South Texas. The Eagle Ford play is expected to emerge as a major oil and gas play in the United States over the next decade. Experts estimate it will rank sixth in size among the all-time giant oil fields in the U.S.
"Many of these sites are extremely remote and unmanned, which means 24x7 distributed power is paramount," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing. "Even more important, producers must meet tough EPA air-permitting requirements, which makes Capstone's clean-and-green, low-emission microturbines attractive."
"The reliability of Capstone microturbines, along with their low emissions, low cost of ownership, and Pumps & Service's ability to deliver the total solution, all contributed to the company's decision to select Capstone," said Bryan Hensley, Vice President of Sales and Marketing, Pumps & Service.
The order Pumps & Service received two months ago from North America's largest gas producer featured a Capstone C600 microturbine that will be installed at a site pumping gas from the Marcellus Shale Play that spans West Virginia, Pennsylvania and Southern New York.
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 5,000 Capstone MicroTurbine(R) 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, Mexico City, Nottingham, 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 lower operational cost, additional reliability, compliance with certain air quality regulations, increased demand for our products and opportunities in the oil and gas sector. 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 August 23, 2010