DENVER, CO -- (Marketwire) -- 09/21/11 -- ENSERVCO Corporation (OTCBB: ENSV), a provider of well-site services to the domestic onshore conventional and unconventional oil and gas industries, today announced the opening of its operations center in Killdeer, North Dakota.
The facility is centrally located in the Williston Basin's Bakken Shale Formation, one of the largest and most active oil fields in the continental United States, and will serve a roster of major, mid-major and independent exploration and production customers with which ENSERVCO already does business in several other regions.
Approximately 15 employees have begun work at the facility, and management expects to more than double the workforce in the coming months. The eight-acre site, which will house a fleet of specialized well-site service vehicles and construction equipment, also includes a maintenance shop, multiple offices and living quarters for up to 32 employees.
ENSERVCO has had advance crews working in the Bakken for several weeks providing hot oiling and construction services. As average daily temperatures have begun to drop in the region, requests for the Company's primary fluid heating services have already begun to escalate. The demand for fluid heating services can last up to 10 months of the year in the Bakken given the region's relatively low average temperatures.
"The opening of the Killdeer facility comes less than a month after we launched operations in the northern portion of the Niobrara Shale Formation from a new facility in Cheyenne, Wyoming," said Rick Kasch, president and chief financial officer. "These two facilities, which are operating in highly prolific unconventional shale plays, should help us continue to deliver strong quarter-over-quarter revenue growth for the foreseeable future."
ENSERVCO reported 49% revenue growth during the first six months of 2011 versus the comparable period of 2010.
About ENSERVCOThrough its various operating subsidiaries, ENSERVCO has rapidly emerged as one of the energy service industry's leading providers of hot oiling, acidizing, frac heating and fluid management services. The Company owns and operates a fleet of more than 225 specialized trucks, trailers, frac tanks and related well-site equipment. ENSERVCO operates in Colorado, Kansas, New Mexico, North Dakota, Oklahoma, Pennsylvania, Texas, Utah, Wyoming and West Virginia. Additional information about the Company is available at www.enservco.com.
Cautionary Note Regarding Forward-Looking StatementsThis news release contains information that is "forward-looking" in that it describes events and conditions ENSERVCO reasonably expects to occur in the future. Expectations for the future performance of ENSERVCO are dependent upon a number of factors, and there can be no assurance that ENSERVCO will achieve the results as contemplated herein. Certain statements contained in this release using the terms "may," "expects to," and other terms denoting future possibilities, are forward-looking statements. The accuracy of these statements cannot be guaranteed as they are subject to a variety of risks, which are beyond ENSERVCO's ability to predict, or control and which may cause actual results to differ materially from the projections or estimates contained herein. Among these risks are those set forth in a Form 10-K filed on March 28, 2011. It is important that each person reviewing this release understand the significant risks attendant to the operations of ENSERVCO. ENSERVCO disclaims any obligation to update any forward-looking statement made herein.
Pfeiffer High Investor Relations, Inc.