Capstone Secures Repeat Order for Expanding Oil and Gas Projects in Utica Shale
December 03 2018 - 8:30AM
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:
CPST), the world’s leading clean technology manufacturer of
microturbine energy systems, announced today that is has secured a
repeat order for one C600 Signature Series microturbine that will
be used to power a gathering station that transports natural gas
through the pipelines in the Utica Shale.
The order secured by E-Finity Distributed Generation, Capstone’s
distributor for the Mid-Atlantic and Southeastern United States is
a repeat order that will be commissioned in the spring of 2019. The
expandable five bay C600S will be shipped in a one-megawatt
enclosure with two open bays in anticipation of increased demand in
the near future for abundant natural gas from the shale.
“Located below the Marcellus Shale, one of the world’s largest
natural gas fields, we have seen renewed interest in the Utica
Shale which is quickly becoming a promising area of exploration for
several oil and gas companies,” said Darren Jamison, Capstone’s
President and Chief Executive Officer.
The Utica Shale is a black, organic rich-shale that lies beneath
most of New York, Pennsylvania, Ohio, West Virginia and expands
into Canada. According to the Ohio Department of Natural Resources
(ODNR), oil and gas production in Ohio’s Utica Shale for the second
quarter of 2018 has grown year-over-year, producing 4,488,104
barrels of oil, an increase of over 10%. More promising, natural
gas production has increased to 554 billion cubic feet, up from
389, or an increase of 42% year-over-year.
“Capstone microturbine systems are seen as the technology of
choice in the area due to modular and expandable design,” said Jim
Crouse, Executive Vice President of Sales and Marketing of Capstone
Turbine. “Our customers like the fact that our turbines can be
upgraded to meet increased demand and production with little to no
cost since stations are already set up for additional engines and
capacity,” added Mr. Crouse.
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 over 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 DQS-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.
For more information about the company, please visit
www.capstoneturbine.com. Follow Capstone Turbine on Twitter,
LinkedIn and YouTube.
Forward-Looking Statements
This press release contains “forward-looking statements,” as
that term is used in the federal securities laws. Forward-looking
statements may be identified by words such as “expects,”
“believes,” “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 CorporationInvestor and investment
media inquiries:818-407-3628ir@capstoneturbine.com
Integra Investor RelationsShawn M.
Severson415-226-7747cpst@integra-ir.com
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Mar 2024 to Apr 2024
Capstone Turbine (NASDAQ:CPST)
Historical Stock Chart
From Apr 2023 to Apr 2024