Catapult Announces a New Water Management Facility Partnership
CALGARY, AB (March 9, 2017)
Catapult Environmental Inc. (“Catapult”) announced today that it has signed a partnership agreement with Crew Energy Inc. (“Crew”), a premier Montney oil and gas producer, to design and build a water management facility in northeast British Columbia. This facility will allow Catapult to treat flow-back and produced water. The treated water will be re-used for oil and gas operations, thereby minimizing fresh water consumption and water disposal. Catapult will own and operate the water management facility. The complex will be centrally located in the core of Crew’s Montney play with the ability to serve its development plans for key areas of activity. The facility is expected to take one year to build and will be an integral part of Catapult’s water management business.
Michael Wood, president and chief executive officer, comments, “This water management facility will save Crew approximately 50per cent per well on future water management costs. The facility and the associated water strategy for reduction of freshwater use places Catapult and Crew at the forefront of sustainable environmentally conscious water management in Canada. Partnering with Catapult will allow Crew to focus additional capital expenditure on its drilling program.”
Catapult partners with oil and gas companies to implement innovative, practical and sustainable water management solutions. The company is committed to delivering extraordinary client service and providing cost effective solutions for the management of oilfield water. This approach has proven to be successful at Catapult’s first facility in Fox Creek, which has been operational since February 2016.
Formed in January 2015, Catapult is led by a driven management team of industry veterans who provide unparalleled expertise, value and service to the environmental waste and water treatment sector.
Catapult is an ARC Financial Corp. (“ARC”) sponsored company, having received a strategic investment from ARC Energy Fund 8, a $1.55-billion-dollar private equity fund. With a strong capital partner and track record of success, Catapult is well positioned to support the growth and needs of their clients across the WCSB.