Despite a downturn in the oil and gas industry, Galenfeha,
Inc. (OTC PINK: GLFH) is promoting strong financial growth by providing
innovative solutions that help oil and gas producers increase efficiency and
limit costs. Last month, the company introduced its proprietary iWaV
intelligent injection control system, which seamlessly interfaces with existing
SCADA infrastructure, enabling operators to remotely automate all aspects of
chemical titration at well sites. In addition to demonstrating Galenfeha’s ongoing
commitment to the oil and gas industry, the iWaV system provides the means for
substantial cost savings by minimizing the need for labor-intensive,
potentially dangerous onsite maintenance activities.
Earlier today, the company took a major step toward
capitalizing on the marketability of its revolutionary system and increasing
its presence in the oil and gas industry by announcing an exclusive
distribution agreement with Oil and Gas Equipment, Inc. This agreement – which
followed Galenfeha’s August announcement of a separate distribution agreement
for the West Texas region – is expected to greatly improve the national
presence and availability of the company’s products moving forward.
“We are delighted that Oil and Gas Equipment will represent
our brand in new regions,” Lucien Marioneaux, Jr., president and chief
executive officer of Galenfeha, stated in a news release. “We look forward to a
successful partnership with incredible growth opportunities.”
Oil and Gas Equipment, Inc. has serviced the oil and gas
industries in New Mexico, Utah and Colorado for nearly six decades. In this
time, it has become known among industry experts as the premier ‘one-stop-shop’
for oil and gas production services and equipment.
In recent weeks, Galenfeha’s expanded product line has
helped it achieve considerable financial growth. During the second quarter of
2015, the company recorded revenues of over $242,000 on its way to a gross
profit of $132,000. The new relationships and payment terms associated with
this growth are expected to spur a significant increase in cash flow in the
months to come, allowing Galenfeha to explore opportunities to expand its
manufacturing operations while continuing to promote maximized shareholder
value.
Take a closer look at the company by visiting
www.galenfeha.com
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