Layne Christensen Company fka LAYN

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Layne Christensen announces new energy infrastructure business

Layne Christensen (LAYN -0.8%) unveils a new energy infrastructure business and construction of a new high-capacity water pipeline system to serve fracking operations in the Delaware Basin.

LAYN says the $18M water pipeline and infrastructure system will have initial production and delivery capacity of 100K bbl/day of non-potable water, with significant capacity to support further expansion from both additional water sources and delivery points.

LAYN expects water sales to begin during Q3 and for financial returns from the system to be immediately accretive to cash flow and earnings once operational.