HOUSTON, TEXAS, August 21, 2020 HNR Oil Services LLC, a wholly owned subsidiary of Houston Natural Resources Inc., the wholly owned Operating company of the Houston Natural Resources Corp. (OTC: HNRC) (“HNR or the Company”) group of companies.
The HNR Oil Services LLC YO Ranch Commercial Facility will be unique in Texas. The facility is permitted for disposal of twenty-five thousand barrel per day of oil field toxic waste fluids and is permitted and will soon expand to sterilizing oil field toxic solids waste. These unique permits will allow HNR Oil Services to issue its customers a Texas State Certificate of Destruction of such toxic waste. This is an especially important step in environmental protection by keeping toxic materials out of land fields. HNR Oil Services anticipates a rapid expansion with additional processing facilities across all suitable oil and gas producing regions.
HNR has detailed independent appraisals of all assets and is currently focused on completing its audited statements for the past two years, which will provide for the Company to up-list to NASDAQ or NYSE in the next 12 to 18 months.
HNR Oil Services LLC YO Commercial Facility exceeds all state and federal regulatory requirements for providing maximum environmental protection. The YO Commercial Facility will generate multiple streams of revenue for the company via saltwater disposal and oilfield bi-product waste remediation., The YO Commercial Facility will focus on the process of removing undesirable chemicals, suspended solids, oil and gases from contaminated water and solids. By the end of 2020, the YO Commercial Facility is expected to be generating HNRC approximately $250,000 per month of Net Operating Income from the fluid disposal side only.
During the remainder of 2020, HNR Oil Services expects to make an addition $4,250,000 capital investment into this facility with the addition of a Thermal Distortion Unit (TDU) thereby expanding its capabilities into the toxic solid destruction. This capital expenditure and addition of this specialized TDU equipment is anticipated to completed by mid-2021. After completion of construction, the solids remediation side of the facility is expected to generate and additional $500,000 per month N.O.I.
HNR Oil Services anticipate securing multiple locations to construct similar facilities and commencing the permitting process during calendar 2020. HNR is making a long term commitment to bringing a clean working and production environment to the oil and gas industry.
HNR Oil Services LLC, parent company Houston Natural Resources Inc., (HNRI) is the principal Operating Company of Houston Natural Resources Corp (HNRC). HNRI also owns and is acquiring additional producing and non-producing oil and gas assets with quantifiable reserves and production capabilities. In today’s markets HNRI recognizes significant opportunities to acquire undervalued assets for long term appreciation.
David Elks, President of HNR Oil Services LLC., stated:
“We are excited about the future of HNR Oil Services and to open our first HNR commercial facility. We are rapidly signing up new customers daily. We will operate with minimal top-level overhead expenses while attaining fully sustainable operations and expansion of new facilities on an accelerated timetable. HNR Oil Services is doing its part in creating new jobs while practicing CDC recommended guidelines during these difficult times in order for us all to deal with the COVID-19 virus which is effecting lives, jobs, the markets, and the economy as a whole.”
In the second phase of a two-phase strategy for growth, HNRC is pursuing the development and production of our proven oil reserves. We are dedicated to providing support to our wholly owned subsidiaries to carry out their missions in both the near- and long-term.
About Houston Natural Resources Corp
Houston Natural Resources Corp (www.HoustonNaturalResources.com) (OTC :HNRC). The Company is dedicated to increasing shareholder value through developing natural resources with state-of-the-art innovative technologies in tandem with sustainable environmental services of toxic oil field waste disposal and recycling that are environmentally safe and socially responsible.
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FORWARD-LOOKING STATEMENTS:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
Contact DetailsHouston Natural Resources Corp
+1 757-707-4563
info@HoustonNaturalResources.com
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