LAS VEGAS, NV–(Marketwired – Mar 2, 2015) – National Automation Services, Inc. (“NAS” or “Company”) (
Within the domestic oil and gas industry, the recent decline in oil prices has created challenges for some companies, while creating opportunities for others. NAS is aggressively capitalizing on the opportunities as recently reported, as a dominant force in the Rocky Mountain region marketplace, and have had record setting months. This is directly attributable to our diverse customer base.
Moreover, a significant number of our current customers, about 60% are Natural Gas (“NG”) producers, which have not experienced the price valuation decline magnitude that oil producers have experienced. Indeed, the intermediate and long term outlook for domestic NG production is very promising. The domestic supply has been bottled up with no vehicle to process the gas into liquid natural gas (“LNG”) for export to world markets. However, many companies are about to change this dynamic.
A good example of this change is Cheniere Energy Inc. a Houston, TX-based company. In 2013, the Department of Energy approved Cheniere Energy’s Sabine Pass Liquefaction terminal in Cameron Parish, LA, which will ship up to 2 billion cubic feet of gas per day starting this year. Lithuania announced this past Saturday it had just signed a trade agreement to buy liquefied natural gas from Cheniere Energy’s new export facility, in a move aimed at reducing the European Union (“EU”) and Baltic States heavy dependence on Russian gas deliveries. This trend by the Baltic States and EU is expected to significantly increase over the next year.
Cheniere also has plans to open a new export terminal in Corpus Christi, TX that could be operational by 2017. Dominion Resources Inc., Chevron Corp., Veresen Inc., and KBR Inc. are among other leaders, who are developing and constructing new LNG Plants across the U.S. for delivery abroad. The LNG Plants currently under construction together with others in the permitting process are expected to total approximately two dozen nationally, all targeted for exports from the U.S. to markets abroad. As much as 8.2 billion cubic feet per day of U.S. liquefied natural gas is expected to be delivered to consumers worldwide by 2018.
Bob Chance, President and CEO of National Automation Services, commented on the Company’s future plans, ”In light of these new developments in the Oil and Gas sector, we reported in June of 2014 that we had signed purchase and sale agreements with two additional companies to be added to the NAS portfolio, which were set to close in the first quarter of 2015. Although we are still very interested as both are exceptional companies, we have not committed to a final closing because of the dynamics in play that the energy sector is experiencing with low oil prices.
“The current environment of slumping oil prices and the increased potential natural gas has presented through the construction of new LNG export facilities nationwide, has prompted management and the Board to take another look at our current strategies in comparison to certain emerging opportunities that were not available 6 months ago. We are reviewing new opportunities every day, and our focus is to bring the most value to every dollar spent on our growth strategy. It is exciting to see the magnitude of change any one of these new opportunities could bring to NAS in the very near future.”
For further information about the Company please visit National Automation Services, read our SEC filings at NASV SEC Filings and subscribe to Email Alerts at Subscribe Today (bottom of the web-page) to receive company news and shareholder updates.
SAFE HARBOR AND INFORMATIONAL STATEMENT This press release may contain forward-looking information within the meaning of Section 21E of the Security Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statement of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) the Company’s financing plans; (ii) trends affecting the Company’s financial conditions or results of operations; (iii): the Company’s growth strategy and operating strategy; and (iv) the effects of global, national and local economic and market conditions. The words “may”, “would”, “will”, “expect”, “estimate”, “anticipate”, “believe”, “intend”, “project” and similar expressions and variations thereof are intend to identify forward-looking statements. Investors are cautioned that any such forward-looking statement are not guarantee of future of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the Company’s reports filed with the SEC. The foregoing list of important factors is not complete and the Company does not undertake to update any forward-looking statements that it may make except as required by applicable law. All subsequent written and oral forward-looking statements attributable to the Company or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements referenced above.
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