Ecosphere Technologies, Inc. (ESPH) Announces Significant Milestone in Treatment of Over 1 Billion Gallons of Water from Hydraulic Fracturing Operations
Ecosphere Technologies, Inc., a diversified water engineering, technology licensing and environmental services company, and its majority-owned subsidiary, Ecosphere Energy Services, LLC, today announced the successful treatment of 1.095 billion gallons of frac water. Company revenue has grown by a factor of ten over the last 24 months due to the increased use of their cost-effective, patented Ozonix process for successfully treating the biofilms and bacteria in water.
“I am proud to announce that we have been able to treat over 1 billion gallons of water to date on approximately 416 natural gas wells in Oklahoma and Arkansas, allowing operators to recycle flow back and produced waters. This significant milestone was passed last week while treating water on a multiple well pad in Arkansas for a major energy company,” said Robbie Cathey, chief executive officer, Ecosphere Energy Services in a press release issued Monday. “Our new Ozonix EF80 units, under the operation of our U.S. onshore oil & gas licensee, were recently used to successfully treat water for oil well fracturing in South Texas. We are very excited about this new additional market for our Ozonix technology.”
Mario Gabelli, Chief Investment Officer of GAMCO Investors, recently told viewers of CNBC that he is investing in small companies in the US that are focused on utilizing technology to manage water in the oil and gas fracturing industry. He said that he owns all of these companies and is on the hunt for new opportunities in the fracturing and water treatment space.
“Having people like Mario Gabelli call attention to the investment opportunity in water treatment in the oil and gas industry is very positive. We are pleased with our success in leading the way to help our customers recycle water and reduce the traditional chemicals being used during hydraulic fracturing,” said Charles Vinick, Chairman and CEO of Ecosphere Technologies in the press release.
For more information, please visit www.EcosphereTech.com and www.Hydrozonix.com
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