Capstone Receives Follow-On Order for 30 C65s From U.S. Oil and Gas Exploration and Production Company
CHATSWORTH, Calif., Feb. 6, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it continues to expand its presence in the Eagle Ford Shale Play with another follow-on order for 30 C65 microturbines from a U.S.-based oil and gas exploration and production company.
The oil and gas exploration and production company's operations are located primarily in the United States with natural-gas exploration and production onshore in the lower 48 states, onshore in Alaska, and offshore in the deep waters of the Gulf of Mexico. This latest order brings their total C65 fleet to approximately 150 microturbines. Most of the C65 units were purchased by the oil and gas producer's production division and are utilized for lease automatic custody transfer (LACT) units. In addition, the company's mid-stream division has previously purchased seven C600s and one C800 making the company one of the largest Capstone users in North America.
Capstone distributor Horizon Power Systems secured this follow-on order to support the exploration and production company's growing power needs in the Eagle Ford shale play.
"These multiple follow-on orders indicate that Capstone microturbines are quickly becoming the chosen power system to meet the growing needs of major oil & gas exploration and production companies operating in North America," said Sam Henry, Horizon Power Systems President. "This order proves we are making serious inroads in meeting the customer's high-caliber power needs using Capstone's innovative microturbine technology."
Capstone continues its penetration of the North American oil and gas market with another substantial follow-on order from an existing end use oil and gas customer. "The oil and gas market continues to be our fastest growing market worldwide, and the repeat orders indicate our customers' satisfaction with our clean and green power generation solutions," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing.
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the world's leading producer of low-emission microturbine systems, and was the first to market commercially viable microturbine energy products. Capstone Turbine has shipped over 6,500 Capstone Microturbine systems to customers worldwide. These award-winning systems have logged millions of documented runtime operating hours. Capstone Turbine is a member of the U.S. Environmental Protection Agency's Combined Heat and Power Partnership, which is committed to improving the efficiency of the nation's energy infrastructure and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO 9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in the Los Angeles area with sales and/or service centers in the New York Metro Area, Mexico City, Nottingham, Shanghai and Singapore.
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This press release contains "forward-looking statements," as that term is used in the federal securities laws, about growth of the oil and gas market and the advantages of our products. Forward-looking statements may be identified by words such as "expects," "objective," "intend," "targeted," "plan" and similar phrases. These forward-looking statements are subject to numerous assumptions, risks and uncertainties described in Capstone's filings with the Securities and Exchange Commission that may cause Capstone's actual results to be materially different from any future results expressed or implied in such statements. Capstone cautions readers not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Capstone undertakes no obligation, and specifically disclaims any obligation, to release any revisions to any forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.
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Released February 6, 2013