SALT LAKE CITY, Jan. 7, 2015 /PRNewswire/ -- Purestream Services,
LLC ("Purestream") and John Swire
and Sons Inc., a subsidiary of John
Swire & Sons Limited ("Swire"), are pleased to announce
a capital funding transaction that will allow Purestream to
continue to expand its activities in oilfield water treatment and
other water treatment markets.
Purestream is a water services company formed in 2010 with a
focus on designing and building water treatment systems to treat
produced and frac flow-back water for discharge and re-use in the
oil and shale gas industry. Purestream has developed state of the
art, vapor recompression brine concentration and desalination
technology along with single cell induced-gas flotation (IGF)
systems for water reuse.
John Swire & Sons Limited is
the UK-based parent company of the Swire group, a highly
diversified global group. Swire's activities include cold storage,
property development, beverages and support for the onshore and
offshore oil and gas industries. Through its subsidiary Swire
Oilfield Services Inc. Swire provides a wide range of support
services to the US oil industry, both onshore and offshore. In
particular, Swire provides a number of environmentally friendly
solutions for the US shale oil and gas sectors.
Under the terms of the agreement, John
Swire & Sons Inc. will provide funding to Purestream
that will enable the company to maximize the enormous business
opportunities arising from the robust demand for both dynamic water
treatment and management capabilities as a result of increased
drilling in areas such as the Permian Basin and Eagle Ford in
Texas, and the Bakken, primarily
in North Dakota. As part of the
agreement, Andy Hunter, Chairman of
Swire Water Solutions, will join the Purestream Board.
"This agreement comes at a great time for Purestream as we will
benefit from Swire's US and international presence and expertise in
the onshore market, enabling us to better meet the needs of our
customers as we deploy and operate new contracted systems in 2015.
The partnership will also enable us to tap into Swire's customer
base, increasing our reach in the U.S. market," said Neil Richardson, CEO of Purestream.
Richardson added, "We are delighted to welcome Andy Hunter to the Purestream Board. As
Purestream transitions to a larger scale, servicing more customers,
our team will value his real-world experience in scaling businesses
to meet the needs of markets."
"Purestream is an innovative and solutions-driven company with
exciting potential to grow," said Andy
Hunter, Chairman of Swire Water Solutions. "Not only will
this partnership enable Purestream to realize that potential, but
it will enable Swire Oilfield Services to expand the range of
products it can provide its customers. The recent reduction in the
price of oil, combined with a greater need to minimize the impact
on the environment, increases the priority for the oilfield
services sector to enhance efficiencies and reduce costs. I believe
this partnership will enable both companies to achieve these goals
offering one of the most comprehensive range of services to the
onshore oil industry in the US I look forward to working closely
with the Purestream team."
About Purestream Services, LLC
(www.purestream.com)
Purestream is a Utah-based
water treatment and solutions company treating produced water and
frac water for re-use in the oil and gas field since 2010. The
company offers innovative, economic and robust integrated water
treatment solutions including the patented AVARA advanced vapor
recompression technology which provides a distilled quality water
as well as clean brine for re-use in the oil field. Purestream also
offers a specialized induced-gas flotation technology combined with
filtration to remove oil and grease and suspended solids from
oilfield wastewater. The treated water may then be re-used in
drilling operations. Equally as important as the technologies,
Purestream has a strong bench of experienced and knowledgeable team
members bringing with the company a deep understanding of complex
water ranges that are commonly manifested in the oil field.
Purestream operates commercial systems for producers in
Texas, Wyoming, Pennsylvania and Arkansas. Benefits of treatment and re-use
include conservation of water resources in arid basins, as well as
a reduction the trucking and disposal of oil field wastewater in
traditional injection wells. A growing number of producers are
including these environmental best practices of treating and re-use
in their drilling operations as sustainability becomes increasingly
important to producers, communities and regulators.
About Swire (www.swire.com)
Swire is a highly diversified global group, with principal
business activities grouped into five categories: Property,
Aviation, Agribusiness & Food Chain, Marine Services and
Trading & Industrial. Many of Swire's core businesses can be
found within the Asia Pacific
region, traditionally centered on Hong
Kong and Mainland China. Within Asia, Swire's activities come under the
group's Hong Kong publicly quoted
arm, Swire Pacific Limited. The Swire group's UK-based parent
company, John Swire & Sons
Limited, has a 48% shareholding in Swire Pacific, and also has
major business interests in Australia, Papua New
Guinea, East Africa,
Sri Lanka, the USA and UK
John Swire & Sons Limited is
responsible for formulating and directing overall group strategy
and provides a range of services including recruitment, employment,
and training of staff for the group and its subsidiaries, which
today employ over 122,000 people worldwide.
Swire Oilfield Services, a subsidiary of John Swire & Sons Limited, offers a range of
services to the global offshore energy industry. Swire Water
Solutions is based in Spring,
Texas.
For more information, contact Amy
Hansen at ahansen@purestream.com or (801) 209-1887.
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SOURCE Purestream Services, LLC