TEXCOM EXPANDS E&P WASTE DISPOSAL CAPABILITY30-Nov-2011
M.B. ENVIRONMENTAL SERVICES SUBSIDIARY
Second NOW and NORM Injection Well Now Operational
HOUSTON, TX - (Marketwire) – November 29, 2011 - TexCom, Inc. (Pink Sheets:TEXC), an environmental services company for the oil and gas industry, today announced that its M.B. Environmental Services (MBE) subsidiary has drilled and completed a second injection well at its oilfield waste disposal facilities in Chambers County, located halfway between Beaumont and Houston, Texas. Since 1998, this facility has operated a single injection well. Since then, MBE has responsibly processed and disposed of more than 14 million barrels of Non-hazardous Oilfield Waste (NOW) and Naturally Occurring Radioactive Material (NORM) by way of injection into the cap rock of an isolated salt dome.
Late last week, MBE completed the new Class II injection disposal well on the site, which is permitted by the Railroad Commission of Texas, the State agency that regulates the oil and gas industry, to process and dispose of NOW and NORM wastes. A second operating well at the facility adds redundant disposal capacity that will help ensure that operations are not disrupted if either of the two wells is taken out of service for remediation or reworking purposes. The Company also plans to construct additional truck offloading and waste processing areas at the site within the next several months, providing for MBE to more effectively manage and expedite a higher volume of vehicles hauling disposable wastes.
Lou Ross, Chairman, President and CEO of TexCom, noted, "This significant expansion initiative is expected to help positively impact trucking costs for our valued E&P customers by reducing unnecessary truck idling time while in queue. Moreover, these increased facilities at the site will notably enhance MBE's revenue generating potential as we continue to execute strategies to build TexCom into one of the nation's leading environmental services companies serving the oil and gas industry."
About TexCom, Inc.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry. TexCom is expanding its interests to disposal of nonhazardous industrial wastewater, serving the refining and petrochemical industries. For more information, please visit www.texcomresources.com.
This press release and the presentation referenced above may contain forward-looking statements, including information about management's view of TexCom, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release or such presentation other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TexCom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on TexCom's future results. The forward-looking statements included in this press release and the presentation are made only as of the date hereof. TexCom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, TexCom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by TexCom.