Company profie page on StockNewsNow.com: HII Technologies, Inc. (OTCQB: HIIT)
1. How would you describe HII Technologies briefly?
HII Technologies is an oilfield services company with a focus on water management.
2. As an energy services company, what is the company’s central focus?
HII Technologies is a frac water management services company that provides total water management for oilfield companies. HIIT also has supporting service solutions with Safety and Power.
3. AES Water Solutions, AquaTex USA and Hamilton FRAC Water provide oilfield services. What are the different services they provide?
AES Water Solutions (AES) AquaTex, and Hamilton Water Transfer support hydro-fracturing through complete water management services including water transfer, flow back and well testing, frac water recycling, evaporation, and tank storage.
4. Why is water treatment so important to oil companies? Please include a discussion regarding EPA or other regulatory requirements.
It takes 5 to 10 million gallons of water to frac a well. 15%-40% of that will come back up through the well-head after the well is fraced (flowback water) and hydrocarbon wells naturally produce large amounts of water (produced water) over their lifetime. Regulations vary by state, but water must be treated if it is to be re-used or it can be injected into a disposal well.
5. Is HII Technologies revenues completely dependent on the price of oil?
HII Technologies revenues are not related to the price of oil. The only connection is that higher prices drive more drilling activity, which increases demand for HII’s services.
6. Where will HII Technologies future growth come from?
HII’s future growth will come from offering more services to existing customers, gaining new customers and through bolt-on acquisitions of competitors in the very fragmented oilfield water services market.
7. How does HII Technologies gain and maintain market share?
HII has master service agreements with more than 80 customers, which allow the company to offer bundled services and become a one-stop shop for existing customers. New customers are gained through management’s extensive network of contacts and HII’s strong competitive position.
8. How would you describe management’s capabilities in the present and for the future?
Co-founder Brent Mulliniks and I (Matt Fleming, CEO) have over 50 years of combined experience and are committed to growing HII into a dominant player in the oilfield services market. Here’s a bit more background:
MATTHEW FLEMMING CEO & President of HII Technologies
- 20+ years industrial, oilfield and manufacturing experience
- Former Director and CFO at Hemiwedge Industries, Inc. (sold 2011)
- Former CEO of Faro – a specialty products company (successfully merged)
- Significant acquisition and capital raise experience
BRENT MULLINIKS President of AES Water Solutions and Director of HIIT
- Petroleum engineer with over 25 years of experience
- Former VP of Engineering at Reichmann Petroleum Corporation
- Former VP of Oil and Gas Operations for Devonian Resources, Inc.
- Involved with horizontal drilling and fracing in the Barnett Shale since inception
For more information about HII Technologies, Inc., please visit their website: www.HIITinc.com
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