HII Technologies, Inc. (OTCQB: HIIT) is a Houston, Texas based Oilfield Services company with operations in Texas, Oklahoma, Ohio and West Virginia. The Company has positioned itself to take advantage of the significant anticipated growth in horizontal drilling and hydraulic fracturing within the United States’ active shale and unconventional “tight oil” plays. New technologies in horizontal drilling and its related hydraulic fracturing “fracing” have produced a renaissance of activity in the domestic United States. Most of the activity is in the states of Texas and Oklahoma, where about 57% of the rigs in the United States currently reside, according to a recent Baker Hughes rig count report. SNNLive spoke with Matt Fleming, CEO of HII Technologies, Inc. at the LD Micro “Main Event” 2014 in Bel Air, CA.
Mr. Fleming begins with an overview of the company, “HII Technologies is an oilfield services company. We operate in the Southwest United States, which are some of the most economically attractive basins in the United States in terms of the break-even costs for their operators. So, we seek continued robust activity in the field, what we do for a living is frac water management. We handle the entire frac water from cradle to grave for the operators in the field.”
He goes into how much room the company has to grow, “In the state of Texas, according to the Railroad Commission were approximately 2600 fracs last month and we did less than 3% of them and so the indication is that we can stay in our backyard of the Southwest, where a lot of our relationships are and we can grow significantly off that base.”
He explains what other services HII Technologies offers, “We do, in addition to the frac water management, have a safety division that has environmental services with it. So either on the water side or the safety, we do handle that for the operator. It’s tremendous, within that $34 billion market number, about $9 billion of that is estimated to be water recycling market or its potential. So we see that as a very burgeoning early area, where no one has a significant share today and we have some new technology that’s just now being commercialized and we think that’s going to be amazing for the market.” For more information, check out their website: www.HIITInc.com
Since speaking with HII Technologies, the company has made the following announcements:
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