Roanoke, TX, August 23, 2012 --(PR.com
)-- Fountain Quail Water Management, a wholly owned subsidiary of Aqua-Pure Ventures, Inc. (AQE-TSXV), today announced that it has joined forces with Select Energy Services, LLC (Select), a leading water solutions and oilfield service company, for the purpose of developing opportunities for wastewater recycling in the North American oil and gas industries.
The new company, FQS Venture, LLC, combines the industry’s leading recycler of oilfield wastewater with one of the industry leaders in providing water solutions and wellsite services. FQS becomes a formidable player in the wastewater treatment industry, capable of servicing multiple operators in virtually every shale and conventional oil and gas play across the continent.
The joint venture, which was established upon the signing of the agreement, includes an exclusive licensing agreement that goes into effect upon the initiation of the venture’s first project. The license gives the venture access to Aqua-Pure’s technologies, and will remain exclusive to the joint venture as long as certain milestones are met by the venture.
The agreement contemplates that Fountain Quail will contribute its equipment and technological expertise to the joint venture, and that Select will contribute capital to acquire and/or construct additional recycling equipment. Select will likewise use its best efforts to help Fountain Quail fund its operational obligations, and Fountain Quail will earn a royalty stream from the joint venture. Both parties will provide business development support to the venture.
“This venture with Select Energy gives us access to the investment capital and human resources we need to meet current and projected demand for our state-of-the-art recycling technologies,” said Jake Halldorson, Chief Executive Officer of Aqua-Pure Ventures. “Teaming up with a company of Select’s size and reach gives us the scale to compete for virtually every project. We fully anticipate that FQS will grow rapidly over the coming months and years.”
“We are excited about adding NOMAD and ROVER to our portfolio of treatment technologies and increasing Select’s treatment options for our customers’ water recycling needs,” said John Schmitz, CEO of Select. “Additionally, we believe that our customers are interested in making their water operations more economical while finding new ways to implement environmentally friendly practices. Select and Fountain Quail look forward to combining our strengths to provide a cost-effective environmental water solution to today’s energy industry."
Fountain Quail’s ROVER mobile clarifier package is a rugged, durable in-field technology designed for primary treatment of shale gas flowback at or near the source. The self-contained system, which can treat up to 10,000 barrels of flowback and produced water per day, addresses some of the most pressing challenges faced by operators in shale gas plays across North America.
The ROVER System is an ideal solution for natural gas producers looking to reduce their costs of water sourcing, storage, disposal and transportation. The technology, which enables producers to recycle water on-demand near the wellhead, removes suspended solids and soluble organics from shale gas wastewater and returns clean brine that can be blended for re-use as hydraulic fracturing fluid.
NOMAD is a semi-mobile brine concentrator that utilizes a distillation process to produce fresh water from the flowback and produced water.
Since 2004, Fountain Quail has developed and refined its industry-leading technology for recycling flowback and produced water in North Texas’ Barnett Shale. During that time, the company has recycled more than 800 million gallons of shale gas wastewater. This water would have otherwise been injected into deep saltwater disposal wells and permanently removed from the hydrological cycle.
Fountain Quail is currently operating in the Marcellus, Barnett and Eagle Ford Shales, with several other shale plays on tap.
About Aqua-Pure Ventures Inc.
Aqua-Pure (www.aqua-pure.com) is the premier recycler of industrial wastewater in North America. The Calgary-based oilfield engineering and services firm has developed and commercialized cutting-edge technology that transforms wastewater from a liability to an asset. Aqua-Pure’s municipal and oil and gas wastewater services and technology solutions ensure environmental sustainability through the utilization of patented and proprietary technologies. The Corporation’s common shares are listed on the TSX Venture Exchange under the trading symbol "AQE."
For more information, please contact email@example.com, or:
Chairman, Aqua-Pure Ventures
Tel: (403) 301-4123
Cell: (403) 471-8733
This press release contains forward-looking information including but not limited to future development plans and anticipated operations. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include but are not limited to financing risks, risks arising from volatility in the oil and gas industry and ongoing operational risks.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Source: Aqua-Pure Ventures (AQE - TSX-V) http://www.aqua-pure.com