CALGARY, ALBERTA–(Marketwired – Dec. 15, 2015) –
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Millennium Stimulation Services Ltd. (“Millennium” or the “Company”) announced that it has successfully completed its first WATERLESS HYDRAULIC FRACTURING project using the Company’s patented Energized Natural Gas (ENG™) process. Using Millennium’s proprietary equipment to pressure and vaporize liquefied natural gas (“LNG”), Millennium achieved its goal of delivering completely waterless fracs for its client on two well locations within Western Canada. The project demonstrated that ENG can be used as a cost effective method to replace water in well fracturing operations. The ENG Process further serves to reduce or eliminate greenhouse gases (“GHG”) during fracture recovery and also provides an environmentally friendly alternative to using nitrogen or CO2 within fracturing operations.
Additionally, the Company has been awarded a well intervention and production stimulation services project by a major US oil and gas client which it will execute in south Texas in early 2016. Millennium is also in advanced discussions with another major US oil and gas production company to participate in a hydraulic fracturing water reduction project using the ENG method in the southern US in early 2016. The recent work commitments that have been awarded to Millennium by its clients with the high interest levels received about its ENG process shows that ENG is a viable solution for the oil and gas industry to address:
- Water reduction or elimination in well fracturing and stimulation operations
- The elimination of post well completion flaring and venting which produce unwanted GHG emissions
- Specialty injection into producing wells for performance improvement
- Improvement of well economics for the oil and gas producer despite the low commodity price environment that the industry is currently facing
Further to the Company’s recent announcements regarding its successful patent awards by the Canadian Intellectual Property Office and the United States Patent and Trademark Office, Millennium has also recently filed for additional patents to use ENG for other oil and gas services applications supporting well intervention operations.
Energizing with Natural Gas Method
ENG is a patented well completion technology which blends natural gas with conventional oil or water fracturing fluids and proppants into an oil and gas wellbore to hydraulically fracture hydrocarbon bearing reservoirs. The ENG process reduces or eliminates water to ultimately provide a WATERLESS and closed fracturing system where the ENG technology provides zero emissions by eliminating the need to vent and flare. Energized fracturing has long been known to create above average oil and gas reserves recovery.
For further information about Millennium, visit the Company’s website at: http://millenstim.ca/
For further information regarding Millennium’s patented ENG technology, visit: http://millenstim.ca/waterless-hydraulic-fracturing-cyclone-z/
Forward Looking Statements and Advisories
This press release contains certain forward-looking information and forward-looking statements (collectively, “forward-looking statements”) under the meaning of applicable securities laws. The use of the words “would”, “intend”, “anticipate”, “potential”, “will”, “expected”, “can”, “may”, “should” and derivations thereof and similar terms identify forward-looking statements. In particular, but without limiting the foregoing, this news release contains forward-looking statements regarding: the anticipated benefits of the patents being granted to Millennium and its shareholders; the anticipated operational benefits of utilizing the ENG technology.
The forward-looking statements contained in this press release reflect several material factors and expectations and assumptions of Millennium including, without limitation, assumptions relating to the ability of Millennium to execute its current business plan and operational plans in the manner currently planned. Millennium believes the material factors, expectations and assumptions reflected in the forward-looking statements are reasonable at this time but no assurance can be given that these factors, expectations and assumptions will prove to be correct.
The forward-looking statements contained in this press release are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements, including among others: failure to realize the anticipated benefits of the ENG technology; the successful exploitation and integration of the technology; customer acceptance and demand for the technology; success in obtaining further issued patents; the validity of the patents not being challenged, and the potential development of competing technologies by market competitors.
Accordingly, readers should not place undue reliance on the forward-looking statements contained herein. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this press release are made as of the date of this investor update and Millennium disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Millennium Stimulation Services Ltd.
President and Chief Executive Officer
Millennium Stimulation Services Ltd.
Chief Financial Officer