Capstone Receives 5MW Follow-On Order for Global Upstream Oil & Gas Producer
CHATSWORTH, Calif., Feb. 4, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine
Corporation (www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean
technology manufacturer of microturbine energy systems, announced today that
it received a 5 MW follow-on order for a global upstream oil and gas producer.
The five C1000 power packages will be installed in the Eagle Ford Shale play
in Texas. This order increases this particular oil and gas producer's total
Capstone fleet to 10 MW in the Eagle Ford play.
Capstone distributor Horizon Power Systems secured both the initial order and
this latest follow-on order for five megawatts.
"North American shale gas producers are continuing to adopt Capstone
microturbines because they want the high reliability and low emission benefits
of our products," said Sam Henry, Horizon Power Systems President. "In
addition, this customer is committed to conducting business safely, in a
socially and environmentally responsible manner which is precisely what
Capstone microturbines deliver."
The Eagle Ford Shale is a hydrocarbon producing formation rich in oil and
natural gas fields. The shale play area starts at the Texas-Mexico border in
Webb and Maverick counties and extends 400 miles toward East Texas. The play
is 50 miles wide and an average of 250 feet thick at a depth between 4,000 and
12,000 feet. The shale contains a high amount of carbonate which makes it
brittle and easier to use hydraulic fracturing to produce the oil or gas. The
oil reserves are estimated at 3 billion barrels with potential output of
420,000 barrels a day.
The microturbines will provide power for liquid processing plants and will be
located at multiple central gathering plants. The microturbines, fueled by
pipeline quality gas, will produce electricity to provide all power to the
onsite equipment, including heaters, pump motors, compressors and distribution
Capstone continues its penetration of the North American shale gas market with
another substantial order from an existing customer. "The oil and gas market
continues to be our fastest growing market worldwide," said Jim Crouse,
Capstone's Executive Vice President of Sales and Marketing.
"Most of today's global oil and gas companies operate in unique geographical,
environmental and socially challenging areas in relatively isolated parts of
the world. It is important that when they operate in these sensitive
ecological areas near local communities they select the right state of the art
equipment," said Darren Jamison, Capstone's President and Chief Executive
About Capstone Turbine Corporation
Capstone Turbine Corporation (www.capstoneturbine.com) (Nasdaq:CPST) is the
world's leading producer of low-emission microturbine systems, and was the
first to market commercially viable microturbine energy products. Capstone
Turbine has shipped over 6,500 Capstone Microturbine systems to customers
worldwide. These award-winning systems have logged millions of documented
runtime operating hours. Capstone Turbine is a member of the U.S.
Environmental Protection Agency's Combined Heat and Power Partnership, which
is committed to improving the efficiency of the nation's energy infrastructure
and reducing emissions of pollutants and greenhouse gases. A UL-Certified ISO
9001:2008 and ISO 14001:2004 certified company, Capstone is headquartered in
the Los Angeles area with sales and/or service centers in the New York Metro
Area, Mexico City, Nottingham, Shanghai and Singapore.
The Capstone Turbine Corporation logo is available at
This press release contains "forward-looking statements," as that term is used
in the federal securities laws, about the advantages of our products and
growth of the oil and gas market. Forward-looking statements may be identified
by words such as "expects," "objective," "intend," "targeted," "plan" and
similar phrases. These forward-looking statements are subject to numerous
assumptions, risks and uncertainties described in Capstone's filings with the
Securities and Exchange Commission that may cause Capstone's actual results to
be materially different from any future results expressed or implied in such
statements. Capstone cautions readers not to place undue reliance on these
forward-looking statements, which speak only as of the date of this release.
Capstone undertakes no obligation, and specifically disclaims any obligation,
to release any revisions to any forward-looking statements to reflect events
or circumstances after the date of this release or to reflect the occurrence
of unanticipated events.
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CONTACT: Capstone Turbine Corporation
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