June 19, 2018 - 8:00 AM EDT
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Flex Leasing Power and Service Helps Canadian E&P Company Reduce Downtime and Minimize Emissions with Clean and Reliable Field Power Solution
  • Flex Leasing Power and Service sold 22 New Flex Turbine® Gas Turbine Units to a Leading Canadian E&P Operator
  • Solution Provides 7.5 Megawatts of Power Capacity
  • Agreement Includes a 10-Year Service Contract
  • Minimizes Emissions by Using Wellhead Gas as Fuel Source

GREENWOOD VILLAGE, Colo., June 19, 2018 (GLOBE NEWSWIRE) -- Flex Leasing Power and Service, the leader in reliable and clean field power solutions for the oil and gas industry, today announced that one of Canada’s leading oil and gas producers, has purchased 22 Flex Turbine® units as part of a multi-year agreement to design, install, manage, service and maintain a field power solution using the patented Flex Turbine technology. The operator is currently producing approximately 188 thousand barrels of oil equivalent per day, making it among one of Canada’s largest producers.

The Flex Turbine uses proprietary technology and design to generate electric power from any natural gas source, including wellhead gas and tank vapors, and successfully operates on wet rich gas, lean gas and even gas containing hydrogen sulfide. The Flex Turbine’s wide fuel tolerance, modularity, reliability and on-site flexibility makes the FLPS power solution uniquely adaptable to diverse operating environments, including remote frontier locations.

In addition to the purchase of the Flex Turbine units, the customer has engaged Flex Leasing Power and Service for a ten-year service and maintenance contract. Over the duration of the service agreement, Flex will provide 24/7 monitoring and maintenance of the deployed units. The Flex Turbine requires only one eight-hour scheduled maintenance interval per year, providing for high uptime.

Units are currently being deployed to field locations in the western Canada and once fully installed, the solution will provide 7.5 megawatts of electric power to approximately nine production pads developed by the operator. Eight of the pads will be powered by Flex Turbine units purchased by the operator with the ninth pad powered by units leased from Flex Leasing Power and Service.

Doug Baltzer, President of FLPS, said: “This is the largest order for Flex in Canada since we started operating there in 2015 and it demonstrates the growing market acceptance of our solution for clean, reliable and cost-effective field power. The Flex Turbine offers E&P operators a more reliable power option than the utility grid and can significantly reduce venting and flaring by using wellhead gas and tank vapors as a fuel source instead of combusting them or venting them to the atmosphere. We have close to 200 Flex Turbine units powering oilfield operations in the U.S. and Canada, and we expect our fleet to grow as more operators discover the many benefits of our full-service solution.

“Our solution was chosen because of its reliability, lowest total cost of power over the life of the asset, quiet operations, minimal environmental impact, lowest available emissions, wide fuel tolerance and our ability as a local provider to respond quickly and proactively to the customer’s needs. The long-term service agreement will help the operator scale operations cost-effectively and use the resource in place as its own fuel source for powering equipment on site, eliminating the need to disrupt the environment with additional power line construction and installation of transmission infrastructure.”

About Flex Power Leasing and Service
Flex Leasing Power and Service provides reliable, clean and simple field power solutions to the oil and gas industry. Our high-performance, low-emission and high-uptime gas turbine power solutions deliver the lowest cost of field power over the life of the asset. Customized leasing packages for the Flex Turbine® help operators secure reliable power, reduce flaring, methane venting and air pollution at oil and gas facilities and industrial plants without major capital investments. FLPS is headquartered in Denver, Colorado, and has field locations in North Dakota, Texas, and Alberta, Canada.

Contact
Doug Baltzer
President

Flex Leasing Power and Service
6400 S. Fiddlers Green Circle
Suite 450
Greenwood Village, CO 80111

Phone: (720) 573-7664
Email: [email protected]
Web: FlexLeasingPower.com

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Source: GlobeNewswire (June 19, 2018 - 8:00 AM EDT)

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