Nuverra Environmental Solutions Inc (NYSE:NES), one of the largest U.S. providers of environmental solutions to the energy market, announced its Terrafficient SM integrated solids management process has been designated as a pilot study participant for the development of state standards for recycling oil field special waste by the North Dakota Department of Health.
“With Terrafficient, we offer an integrated process for recycling and reusing drill cuttings that is scientifically proven, environmentally sustainable and reduces liability for operators,” said Mark Johnsrud, Chairman of the Board and Chief Executive Officer. “We believe Terrafficient is a transformational process that fosters environmental sustainability and will influence how drilling solids are managed in the future.”
“We salute the North Dakota Legislature and Governor Jack Dalrymple for their vision and applaud the Health Department for their efforts in creating this pilot program,” Mr. Johnsrud continued. “Nuverra is honored to be granted the privilege of participating in this program that will pave the way for the environmentally responsible utilization of recycled materials.”
Governor Dalrymple stated, “Finding innovative ways to recycle and reuse the waste generated from oil and gas development in western North Dakota is something we have been working hard to achieve. Nuverra’s new Terrafficient process will utilize cutting-edge technology to recycle wellsite drilling waste for beneficial reuse, and its selection as a pilot project will assist the state in determining standards for the operations and permitting of oilfield waste recycling facilities.”
Following three years’ of scientific research, engineering and rigorous testing of the Terrafficient process, Nuverra began processing drill cuttings earlier this year at its treatment facility in the heart of the Bakken Shale region near Watford City, North Dakota.
Terrafficient is an integrated process for recycling drill cuttings based on a highly specialized, scientific, total-system approach to solids management. Services include field coordination, special collection, transportation, documentation, advanced treatment, distribution, recycling, reuse and/or responsible disposal. With TerrafficientSM, customers can reduce solid waste volumes, increase efficiency on location and convert drill cuttings into reusable materials.
“Terrafficient is a new and safe way to manage environmentally sensitive drilling waste,” Mr. Johnsrud continued. “It virtually eliminates the waste and puts the cuttings back to work for a variety of industrial uses, reduces truck miles on community roadways, and creates long-term savings for our customers.”
Terrafficient end product applications include road base, gravel additive, general construction fill and flowable fill, as well as other products in development. Additionally, the TerrafficientSM process recovers water and hydrocarbons from drill cuttings for reuse and reduces carbon emissions to the atmosphere.
Nuverra’s scientific partner is the University of North Dakota Energy & Environmental Research Center (EERC), a world-renowned scientific research organization dedicated to energy-efficient technologies. Nuverra commissioned the EERC to study the composition of Bakken-area drilling solids handled through the Terrafficient process to determine beneficial reuse applications for the end product material.
John Harju, EERC Associate Director for Research, said, “I strongly believe Terrafficient provides a game changing alternative for the management of drill cuttings. Recycling cuttings is a relatively new technology, and Nuverra has taken it a step further by developing a process that can potentially convert 100% of drill cuttings into reusable products. We commend Nuverra for its commitment to identification, development and implementation of the right solution for the environment.” (Original Source)
Shares of Nuverra Environmental opened today at $5.22 and are currently trading down at $5.19. NES has a 1-year high of $21.29 and a 1-year low of $1.65. The stock’s 50-day moving average is $4.68 and its 200-day moving average is $4.56.
On the ratings front, Nuverra Environmental has been the subject of a number of recent research reports. In a report issued on May 12, Needham analyst Sean Hannan reiterated a Buy rating on NES, with a price target of $5.50, which implies an upside of 5.4% from current levels. Separately, on March 17, Roth Capital’s Gerry Sweeney reiterated a Hold rating on the stock and has a price target of $3.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Sean Hannan and Gerry Sweeney have a total average return of 7.8% and -9.0% respectively. Hannan has a success rate of 58.3% and is ranked #880 out of 3612 analysts, while Sweeney has a success rate of 22.2% and is ranked #3236.
Nuverra Environmental Solutions Inc formerly, Heckmann Corp provides environmental solutions to customers focused on the development and ongoing production of oil and natural gas from shale formations.