FT. WORTH, Texas, Oct. 9, 2015 /PRNewswire/ -- Galenfeha, Inc. (OTC: GLFH) announces continued market penetration with its products and an exclusive agreement with Oil and Gas Equipment, Inc. to distribute Galenfeha's proprietary lines of chemical injection pumps, iWaV systems, and stored energy solutions.
Family owned for three generations, Oil and Gas Equipment, Inc. has proudly serviced the oil and gas industries in New Mexico, Utah, and Colorado for over 57 years. They have developed a business model known to industry experts as the premier "one-stop-shop" for oil and gas production services and equipment.
Lucien Marioneaux, Jr., Galenfeha, Inc. President/CEO commented, "We are delighted that Oil and Gas Equipment will represent our brand in new regions. We look forward to a successful partnership with incredible growth opportunities."
James Ketner, Galenfeha's founder and Chairman added, "Although we have seen an overall downturn in the oil and gas industry, increased efficiency has helped overcome the headwinds of lower priced oil. Our products are quickly becoming industry leaders, greatly improving efficiency for oil and gas production and operations." Mr. Ketner also added, "We saw 2015 third quarter revenues increase significantly over last year. We did not get some orders booked in September that we expected, but anticipate fourth quarter this year to be our best to date. Some of our new relationships and payment terms will allow the company to see a significant increase in cash flow. With this increase in cash flow, we will be looking into purchasing a larger manufacturing facility, and making acquisitions that will continue to increase the strength of the company."
About Galenfeha, Inc.
Galenfeha (GLFH) is a design, engineering, and manufacturing firm with a focus on stored energy solutions with low environmental impact. Galenfeha designs, manufactures and markets a complete line of patent pending, microprocessor controlled, LiFePO4 chemistry battery systems for Oil and Gas measurement and automation as well as a full line of proprietary high precision chemical injection systems.
For more information on Galenfeha's products and services, please visit www.galenfeha.com.
Ft. Worth, TX
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
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SOURCE Galenfeha, Inc.