Capstone Receives Another 3.3MW Order from a Repeat Oil and Gas Customer in the San Juan Basin Bringing the Total to 9.3MW in...
March 29 2017 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com)
(Nasdaq:CPST), the world's leading clean technology manufacturer of
microturbine energy systems, announced today that it received an
order for multiple microturbines for a repeat oil and gas customer
operating in the San Juan Basin.
Horizon Power Systems, Capstone’s oil and gas distributor for
the Barnett, Eagle Ford, Mancos, Permian, San Juan, and Wattenberg
shale plays, secured the order. The order, consisting of twelve C65
microturbines, three C600S Signature Series microturbines and a
C800S Signature Series microturbine are expected to be commissioned
early this summer.
“We are unquestionably seeing a strengthening in our U.S. oil
and gas related business since the presidential election in
November,” said Darren Jamison, Capstone’s President and Chief
Executive Officer. “This is the fourth large order secured in the
U.S. shale plays in the last 120 days and together these orders
total 9.3MW consisting of 36 microturbines for repeat customers,”
added Mr. Jamison.
All 16 microturbines will provide prime power to oil production
sites, production measurement operations and transportation
pipelines. The units will be installed in increments over time and
fueled by wellhead gas, direct from the pipeline. Capstone
microturbines were selected for their low emissions profile, low
maintenance and reliable power generation capabilities in remote
locations.
“This oil and gas customer in particular has installed over 180
Capstone units over the years,” said Jim Crouse, Capstone’s
Executive Vice President of Sales and Marketing. “As the oil and
gas industry rebounds, we are seeing increased interest especially
in our new world class Signature Series product offering,” added
Mr. Crouse.
According to the U.S. Energy Information Administration (EIA),
the San Juan Basin in northwestern New Mexico contains one of the
largest demonstrated natural gas reserves in the United States. New
Mexico is among the top 10 states in the nation in per capita
natural gas consumption with the electric power sector being the
largest consumer in the state.
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 has shipped
approximately 9,000 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of
documented runtime operating hours. Capstone 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
9001:2015 and ISO 14001:2015 certified company, Capstone is
headquartered in the Los Angeles area with sales and/or
service centers in the United States, Latin America, Europe,
Middle East and Asia.
This press release contains "forward-looking statements," as
that term is used in the federal securities laws, about the
advantages of our microturbines and improvements related to
Capstone’s Signature Series product offerings, as well as the
strengthening and recovery of the oil and gas market.
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.
"Capstone" and "Capstone Microturbine" are registered trademarks
of Capstone Turbine Corporation. All other trademarks
mentioned are the property of their respective owners.
CONTACT: Capstone Turbine Corporation
Investor and investment media inquiries:
818-407-3628
ir@capstoneturbine.com
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