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CALGARY - Intercept Energy Services Inc. (the "Company" or "Intercept") - TSX Venture: IES - Intercept announces that it will deploy 2 truck mounted heating units in North Dakota, USA. The Company has recently taken delivery of two additional tri axle trucks that are fully outfitted and ready for deployment in the Bakken area out of Williston, North Dakota. The Intercept trucks use proprietary technology making the water heating units the safest, most economical and environmentally friendly units available. One of the units is fully owned by Intercept and the other will be leased.
With the addition of the 2 new frack water heating units, Intercept is now operating a total of 6 units, 2 in North Dakota and 4 from the Central Region of Alberta, Canada.
North Dakota Fracking highlights:
Recently the Department of Mineral Resources in North Dakota predicted that the State's daily oil production would double - from 875,000 barrels to 1.6 million by 2017. 1 For the past 60 years North Dakota has been an oil producing state, however, in recent years the state has seen a boom in its Bakken region. As such, North Dakota has become the fourth largest oil producing state in the country and one of the largest onshore oil producing region in the United States. The Bakken shale formation extends beyond North Dakota into Eastern Montana and neighboring territories of Saskatchewan and Manitoba to the north in Canada.
North Dakota's success has been largely attributed to advances in oil field technology, primarily horizontal drilling and hydraulic fracturing.
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According to a new report by Barclays, international oil and gas companies are set to increase spending on exploration and production in 2014, with the rise being most significant in North America. In North America oil and gas companies are expected to increase spending by more than 7 percent, up by 2 percent in 2013. This prediction is based on a survey of more than 300 oil and gas companies conducted over several months and completed in November.2
Randy Hayward, President and CEO stated that for the last two years, Intercept has been servicing oilfield and gas companies in Western Canada and believes that the market in North Dakota offers an exceptional opportunity for the Company's heating units to service and expand the Company's business of heating water used in fracking.
INTERCEPT ENERGY SERVICES INC. (http://interceptenergy.ca)
Intercept Energy Services Inc. is an oilfield service company primarily focused on servicing oilfield and gas companies, including their fracking operations. The Company operates a growing number of proprietary, highly efficient and economical water heating units in Western Canada and North Dakota making our system the safest and most environmentally friendly heating unit available.
INVESTOR RELATIONS AND COMMUNICATIONS
RANDY HAYWARD, PRESIDENT or BUCHALTER CONSULTING
Phone: 250-247-8689 or 604-687-8855 Toll free 1 866 631 6537 Fax: 604-608-5442 [email protected]
Neither The TSX Venture Exchange Nor Its Regulation Services Provider (As That Term Is Defined In The Policies Of The TSX Venture Exchange) Accepts Responsibility For The Adequacy Or Accuracy Of This News Release.
1 Report produced by Lynn Helms, Director of North Dakota's Department of Mineral Resources
2 Thomson Reuters 2013 report December 9, 2013 : Barclays report