Bi-Fuel is a proven technology, consisting of CNG injected
into the inlet air of a diesel engine. The natural gas can
replace up to 60 - 70% of the diesel fuel when the engine is
under load. Further savings are possible in winter because a
rig boiler can be fired on 100% CNG, and there are other
mobile diesel engine applications (e.g. fracture stimulation
equipment). Using heating value, the current diesel
equivalent value of CNG is approximately $30 per thousand
cubic feet (mcf). By displacing a portion of diesel fuel use
from its drilling rigs with CNG, there is a significant
economic and environmental opportunity for the Company as
well as its customers and the communities where the rigs
work.
President and CEO Randy Hawkings says: "This is an exciting
and unique opportunity for the Company to provide cost
effective solutions for our customers while increasing the
Corporation's profitability and reducing the environmental
footprint of our operations."
CanElson is an Alberta, Canada corporation that is engaged in
the manufacture, acquisition, operation and sale of drilling
rigs into business relationships involving the Corporation
for the oil and gas industry. The Corporation currently
operates in the western Canadian sedimentary basin (the
"WCSB"), the United States and Mexico. The Corporation's WCSB
operations are currently focused in Alberta, Saskatchewan and
Manitoba. The United States operations are currently focused
in the Permian Basin of West Texas and North Dakota. The
Corporation's Mexico operations are conducted through a joint
venture Company, Diavaz CanElson de Mexico, S.A. de C.V.
("DCM" or the "Joint Venture"), of which CanElson holds a 50%
ownership interest, and is currently focused in the
Ebano-Panuco-Cacalilao fields of the Misantla-Tampico Basin
of Mexico. At the date of this press release, CanElson was
operating 35 rigs: 21 drilling rigs in the WCSB, 6 (net: 5)
drilling rigs in Texas, 4 drilling rigs in North Dakota, 2
(net: 1) drilling rigs and 2 (net: 1) service rigs in the
Misantla-Tampico Basin of Mexico. The Corporation's owned
drilling rig fleet had an average age of less than 5 years,
an average total vertical depth rating of 4,000 metres and
all rigs are capable of drilling horizontal and resource play
wells.
This press release contains certain statements or disclosures
relating to CanElson that are based on the expectations of
CanElson as well as assumptions made by and information
currently available to CanElson which may constitute
forward-looking information under applicable securities laws.
In particular, this press release contains statements
pertaining to implementing the technology on four of the
Company's drilling rigs located in the Saskatchewan Bakken
resource play during the second quarter of 2012; expanding
utilization of the technology into North Dakota and the
Permian Basin of west Texas in the third and fourth quarters
of 2012; and possible winter operating cost savings, all of
which statements contain forward looking information. Many
factors could cause the performance or achievement by
CanElson to be materially different from any future results,
performance or achievements that may be expressed or implied
by such forward looking information. CanElson's Annual
Information Form and other documents filed with securities
regulatory authorities (accessible through the SEDAR website
www.sedar.com) describe the risks, material assumptions and
other factors that could influence actual results and which
are incorporated herein by reference. CanElson disclaims any
intention or obligation to publicly update or revise any
forward looking information, whether as a result of new
information, future events or otherwise, except as may be
expressly required by applicable securities laws.
For further information, please contact: Randy Hawkings
President and CEO CanElson Drilling Inc.
700, 808 - 4th Avenue SW Calgary, Alberta T2P 3E8
Tel: (403) 266-3922
Robert Skilnick
Chief Financial Officer
CanElson Drilling Inc.
700, 808 - 4th Avenue SW Calgary, Alberta T2P 3E8
Tel: (403) 266-3922
distribué par | Ce noodl a été diffusé par CanElson Drilling Inc. et initialement mise en ligne sur le site http://www.canelsondrilling.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-25 23:09:18 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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