COLORADO SPRINGS, CO -- (Marketwire) -- 09/01/11 -- 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 a new operations center in Cheyenne, Wyoming.
The facility, which was established to support an expanding roster of customers operating in the active Niobrara Shale formation in southeast and central Wyoming, is already providing 12 exploration and production customers with hot oiling, pressure testing, fluid management and roustabout work. Management expects demand for the Company's core heating services will expand rapidly in the coming weeks as average daily temperatures in the region begin to decline. The Company expects to receive initial revenue contributions from the new facility during the third fiscal quarter ending September 30, 2011.
Rick Kasch, president and CFO, said, "Our Cheyenne facility and our soon-to-open Bakken operations center in Killdeer, North Dakota are positioning ENSERVCO as a key well-site service provider in two of the most active oil and gas basins in the country. Customers have already indicated they expect to have a significant need for our heating, well stimulation and fluid management services during the coming fall, winter and spring seasons. These new facilities will enable us to address that demand."
Mike Herman, chairman and CEO, said, "Our successful push into the Niobrara and Bakken regions represents a key strategic milestone that positions ENSERVCO to significantly accelerate its financial growth during the coming quarters. Going forward, we will continue to actively explore new services that we hope to offer as part of our single-source well-site service model."
The Cheyenne yard opens with a staff of approximately 10 employees and roughly a dozen service vehicles. Management said it expects to expand the facility's workforce and service fleet in the coming months.
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.