$IDGC Fluid Solutions Group Executes Purchase Order for Mobile Chlorine Dioxide Units
Source: InvestorsHub NewsWire
Fluid Solutions Group Executes Purchase Order for Mobile Chlorine Dioxide Units
Chicago, IL -- November 25, 2015 -- InvestorsHub NewsWire -- IDGlobal Corp. (OTC: IDGC) is pleased to announce that its wholly-owned subsidiary Fluid Solutions Group, Inc. (FSG) has executed a purchase order for its first two (2) mobile chlorine dioxide units for the treatment and processing of water used in oil field operations.
FSG, through its partners and affiliates, has the initial opportunity to be awarded multi-year contracts to perform water recycling on up to 60,000,000 barrels of produced water per year, requiring 10 recycling centers. This produced water which is a byproduct along with the oil and gas that is produced from a well needs to be treated, filtered and the residual oil in it recovered in order to be discharged.
The initial (2) 53-foot Mobile Chlorine Dioxide (CLO2) Tandem Spring Ride Chassis portable treatment systems can do one well per week at an average price of $0.37 per barrel. It requires a minimum of 125,000 barrels of water to hydraulic fracture a well. The systems typical capability is treating 500,000 barrels a week which gives us a 4 to 1 safety margin to handle larger water requirements or treating multi-wells at a time.
IDGCs CEO, Sebastien DuFort, was quoted stating This is an exceptional opportunity for FSG to get involved with proven producers in the water treatment industry. The mobile units allow the flexibility to operate anywhere in the world and help maintain a higher margin per barrel. We look forward to updating shareholders as we bring this exciting new technology online. Additionally, by the end of 2015, we anticipate structuring and announcing a dividend to existing shareholders and a spinoff of the companies' subsidiaries.
About ID Global Corporation
ID Global Corporation (IDGC) is a diversified holdings company with a focus on emerging and middle market investment opportunities in North America. IDGC seeks, through debt and equity investments, minority positions as well controlling interests in established companies and special situation start-ups.
Forward-Looking Statements
This press release contains statements which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of ID Global Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
Contact:
Sebastien C. DuFort
www.idglobal-corp.com
