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IESCF Stakes Its Energy Claim in North America
Intercept Energy Services, an oilfield services company that specializes in water-heating for various fracking operations, has made it pretty clear of late that it will stake its growth claim in North America, which has quickly become the largest oil producer in the world thanks to huge fracking efforts on private lands in Texas and especially in the northern plains of the Dakotas.
Intercept Energy, which recently completed a $50,000 private placement of stock to fund some expanding operations in the Bakken oil field in North Dakota, is coming off an encouraging quarterly earnings report in which revenue for the quarter was up more than 120 percent to $800,000 year-over-year, while the 2014 overall revenue number was up nearly 90 percent from 2013 to $2.6 million.
Intercept Energy Services recently indicated strong interest and existing plans to expand operations throughout North America, but is taking a current keen interest in the Bakken shale fields. The company increased its investment from three patented heating units to five.
The units, known as HE Heaters, are gaining momentum with fracking operations because they heat water and do not give off radiant heat, which has shown to be more environmentally safe, and safer for workers as well since the heaters have no open flame with which to contend. The heat that is given off is put back into the heating of the water.
With the boom of shale fracking in the Bakken fields continuing with little downturn expected in the long term, there is an opportunity for Intercept Energy Services to provide its HE Heaters as a prominent tool on several plays across North Dakota, which may mean an opportunity for growth that could match the growth of the Dakotas and U.S. oil production in general.
For more information, visit www.InterceptEnergy.ca
