SCOTTSDALE, Ariz., Nov. 25, 2014 /PRNewswire/ -- Nuverra
Environmental Solutions, Inc. (NYSE: NES) ("Nuverra" or "the
Company"), a leading provider of full-cycle environmental solutions
to energy end-markets, announced today that it has entered into a
long-term definitive agreement with XTO Energy Inc. ("XTO"), a
subsidiary of Exxon Mobil Corporation, to provide water-related
pipeline services in McKenzie County,
North Dakota.
Under the agreement, Nuverra will build the 150-mile McKenzie
County Pipeline Network ("the Network") to provide produced water
gathering and disposal services and fresh water delivery. The XTO
agreement is a long-term, fee-based gathering agreement.
"The construction of this pipeline represents a transformational
step in our effort to become a fully-integrated environmental
solutions provider in North
Dakota," said Mark Johnsrud,
Chairman of the Board and Chief Executive Officer of Nuverra. "We
are pleased to extend our relationship with XTO to serve their
growing water management needs."
"With significant increases in well density and growing water
volumes, we believe our pipeline network represents an important
complement to our transportation capabilities and provides
sustainable and efficient water gathering and delivery solutions
for our customers," concluded Mr. Johnsrud.
The Network will serve XTO's dedicated acreage, as well as other
operator wells in the area. The Network will feature fixed, buried
pipelines, which will include a gathering line to transport
produced and flowback water for disposal or recycling and a
distribution line for fresh water delivery.
The Network is projected to cost $125
million to $150 million, based on current engineering and
construction specifications, with completion during the fourth
quarter of fiscal 2015. Construction is expected to begin in
May 2015.
About Nuverra
Nuverra Environmental Solutions is among the largest companies
in the United States dedicated to
providing comprehensive and full-cycle environmental solutions to
customers in energy and industrial end-markets. Nuverra focuses on
the delivery, collection, treatment, recycling, and disposal of
restricted solids, water, wastewater, used motor oil, spent
antifreeze, waste fluids and hydrocarbons. The Company continues to
expand its suite of environmentally compliant and sustainable
solutions to customers who demand stricter environmental compliance
and accountability from their service providers. Interested parties
can access additional information about Nuverra on the Company's
web site at http://www.nuverra.com, and in documents filed with the
United States Securities and Exchange Commission, on the SEC's web
site at http://www.sec.gov.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the safe harbor provisions of the United States
Private Securities Litigation Reform Act of 1995. Words such as
"expect," "estimate," "project," "budget," "forecast,"
"anticipates," "intends," "plans," "may," "will," "could,"
"should," "believes," "predicts," "potential," "continue,"
"confident," and similar expressions are intended to identify such
forward-looking statements. Forward-looking statements in the press
release include, without limitation, forecasts of growth, revenues,
business activity, adjusted EBITDA, pipeline and solids treatment
initiatives, and landfill and treatment facility activities, as
well as statements regarding expected project completion timing,
possible divestitures, timing of such divestitures, acquisitions,
financings, business growth and expansion opportunities,
availability of capital, ability to access capital markets, and
other matters that involve known and unknown risks, uncertainties
and other factors that may cause results, levels of activity,
performance or achievements to differ materially from results
expressed or implied by this press release. Such risk factors
include, among others: difficulties encountered in acquiring and
integrating businesses; uncertainties in evaluating goodwill and
long-lived assets for potential impairment; potential impact of
litigation; risks of successfully consummating expected
transactions within the timeframes or on the terms contemplated,
including risks that such transactions may fail to close due to
unsatisfied closing conditions; uncertainty relating to successful
negotiation, execution and consummation of all necessary definitive
agreements in connection with our strategic initiatives; whether
certain markets grow as anticipated; pricing pressures; risks
associated with our indebtedness; low oil and or natural gas
prices; changes in customer drilling and completion activities and
capital expenditure plans; availability of materials, contractors
and labor to complete construction projects; shifts in production
among shale areas in which we operate and/or into shale areas in
which we currently do not have operations; control of costs and
expenses; obtaining required third-party consents and/or rights of
way; and the competitive and regulatory environment. Additional
risks and uncertainties are set forth in the Company's Current
Report on Form 10-Q for the three months ended September 30, 2014, its Annual Report on Form
10-K for the fiscal year ended December 31,
2013, as well as the Company's other reports filed with the
United States Securities and Exchange Commission, which are
available at http://www.sec.gov and the Company's web site at
http://www.nuverra.com. As a result of the foregoing
considerations, you are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. All forward-looking statements are qualified
in their entirety by this cautionary statement. The Company
undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Nuverra Environmental Solutions, Inc.
Liz Merritt, 480-878-7452
VP-Investor Relations & Communications
ir@nuverra.com
- or -
The Piacente Group, Inc.
Don Markley or Glenn Garmont, 212-481-2050
nuverra@tpg-ir.com
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SOURCE Nuverra Environmental Solutions