HII Technologies, Inc. (HIIT) Increasing Market Share in Oil and Gas Industry with Cost-Effective Portfolio of Services

HII Technologies is an oilfield services company with operations in Texas, Oklahoma, Ohio and West Virginia. Through the use of innovative water management techniques – including both water transfer and produced water flowback services – the company is strategically positioned to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the country’s active shale and unconventional oil plays in the years to come. Since horizontal multi-stage fracking operations can use more than five million gallons of water during oil production activities, the company’s services, which include the installation of temporary, above-ground pipe connected to nearby water sources, normally offer significant cost savings over less efficient means of transport.

While slumping commodity prices have had a negative impact on much of the oil and gas industry throughout the first half of 2015, the water management market appears to be the exception. According to a report by Lux Research, the estimated value of the hydraulic fracturing water management market remains steady at $1.9 billion for 2015. This consistent performance comes as a result of oil and gas firms searching out new ways to cut back on capital spending in recent months, effectively highlighting the benefits of HIIT’s services.

In particular, the report notes the significant growth potential of the water recycling market, which is an increasingly attractive option for production firms as the U.S. Department of the Interior looks to build upon recently announced environmental regulations. HIIT’s solution to this shifting landscape comes in the form of high volume onsite recycling of flowback and produced water. This technology has the capacity to clean up to 20,000 barrels of water each day while occupying a relatively small on-site footprint.

In the first quarter of 2015, HIIT’s performance echoed the optimism of Lux Research’s market forecast. The company’s total revenues for the period rose by approximately 13.3 percent from the previous year to $8.5 million despite unforeseen challenges to operations presented by inclement weather. Additionally, HIIT acquired eight new customers during the quarter following the release of new technologies, such as its proprietary AES HydroFLOW™ non-chemical bacteria kill.

“Offering new frac water related technologies that save customers money and drive efficiencies, cutting operational costs and bundling of our suite of services is the strategic approach the company has taken to manage through this industry cycle,” Matthew Flemming, chief executive officer of HIIT, stated in a news release. “Our goal is to exit this cycle as a market share leader in the southwest United States using our cost-saving technologies to have a competitive advantage.”

As HIIT continues to build upon its innovative portfolio of oilfield services, the company is in a favorable strategic position to promote sustainable financial growth in the months to come. Look for HIIT expand upon its market share by leveraging the marketability of its unique combination of cutting-edge technology and cost-saving solutions for the foreseeable future.

For more information, visit www.hiitinc.com

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