Recent Freestone PR.
DALLAS, TX– Freestone Resources, Inc. would like to update its shareholders on the progress of the joint venture, Freestone Water Solutions (FWS), which was recently formed with MEA Solutions, LLC to treat and recycle flowback water, as well as produced water for subsequent reuse in the fracking process.
Since the previous announcement, the FWS team has been working diligently to form strategic partnerships with oil and gas service companies to expand its service offerings by introducing water recycling. These discussions have resulted in pilot operations that will commence in January 2012. The operation of the first FWS unit will demonstrate the technology in several shale plays in order to develop additional strategic partnerships, and this unit will allow FWS to demonstrate the technology to certain financial partners as well.
“We have been working with MEA over the last couple of months in order to begin commercial operations of the frac water treatment technology,” said Clayton Carter, President of Freestone Resources. “These activities include the preparation of detailed financial models and business plans, the collection, sampling and analysis of multiple frac and produced water samples, negotiations and discussions with strategic and financial partners, visiting with industry regulators, fine tuning the technology with our manufacturer, and visiting the various shale locations across the U.S. to name just a few. Logistically, we plan to have our first commercially viable unit on site demonstrating our ability to treat water next month, and shortly thereafter have our even larger capacity unit operational.”
Freestone Resources will continue to update shareholders on the status of the first FWS unit’s field operations, performance and financing activities. |
