Titan Holdings Inc., Enters Major Deal to Partner on Fracking Water Processing at Bakken Oil Fields
Submitted by: Flash News Release
2012-12-29 00:01:12
Titan Holdings Inc. will partner with a major natural gas producer to process hydraulic fracturing waste water resulting from production at the Bakken oil fields. Remediation will be a major boon to natural gas production.
(OPENPRESS) Singapore -- Titan Holdings Inc., a Nevada-based environmental company which is a wholly-owned subsidiary of Scalada Holdings Ltd. ( http://www.scaladaholdings.net ), announced today that it has a mega contract pending with a major natural gas producer to process hydraulic fracturing wastewater resulting from production at the Bakken Oil Fields. Also involved in the deal is joint venture partner Cherokee Holdings, LLC, an engineering firm.
The Bakken Formation is rock unit occupying approximately 200,000 square miles (520,000 sq. km) of the subsurface of the Williston Basin, underlying parts of Montana, North Dakota, and Saskatchewan. Besides being a widespread prolific source rock for oil when thermally mature, there are also significant producible reserves of oil within the Bakken formation itself. The most recent estimates place the total reserves, recoverable and non-recoverable with today's technology, at about 18 million barrels.
New rock fracturing technology available since 2008 has yielded a boom in Bakken production. By 2010 Q4, oil production had reached 458,000 barrels (72,800 m3) per day, outstripping the capacity to ship oil out of the Bakken or to deal with the wastewater produced by fracking.
The purpose of the proposed contract is to recycle the frack water flowback. Currently, each new well uses from 3,000,000 to 10,000,000 gallons of fresh water. However, a shortage of available water in the formation severely hampers efforts to complete all the drilling required. In addition to providing technological and logistical expertise, Titan's installation of Scalada's unique and patented onsite Elemental Ionization System for frack water remediation will allow the recycling of water and assure completion and maximum use of wells.
To learn more about Scalada Holdings Ltd. and its business of bringing green solutions to the global marketplace that produce sustainable outcomes, visit http://www.scaladaholdings.net.
For more information, Contact Jeremy Merritt, Vice President
Scalada Holdings Ltd
Contact Phone: +65 6809 2235
Contact Email: info@scaladaholdings.net
Website: http://www.scaladaholdings.net
Press & Media Contact:
Jeremy Merritt
Scalada Holdings Ltd
77 Robinson Road
Singapore 068896
+65 6809 2235
info@scaladaholdings.net
http://www.scaladaholdings.net
