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Heckmann Corporation Announces First Quarter 2012 Financial Results

Stocks in this article: HEK

“With the addition of Heckmann Environmental Services (formerly TFI), we now offer a range of recycle and reuse options for the generators of used motor oil, oily water, antifreeze and other regulated liquids. The Heckmann executive team has extensive experience in this industry, as well as in our core operating areas in unconventional oil and gas basins. Not only are there tremendous growth opportunities, but we also see the environmental needs of the oil and gas producers extending well beyond water. TFI and its management team specialize in route-based environmental services, and we intend to leverage our collective experience to further expand our environmental service offerings in the basins in which we operate. We will continue to add capabilities enabling us to be a single-source provider of water and environmental services for diversified generators across a number of key and growing segments of the economy.”

Operational Update

Heckmann Water Resources (HWR) operates both produced water and fresh water pipelines for the shale gas producers in Louisiana and Texas. HWR transports, stores, processes and disposes environmentally regulated water throughout Texas, Louisiana, Mississippi, Oklahoma, Pennsylvania, West Virginia and Ohio. HWR provides water transfer services in Louisiana, Texas, Pennsylvania and Ohio.

In the first quarter of 2012, the HWR water business provided steady growth through a combination of securing long-term contracts and volume commitments in the gas basins and significant growth in the oil and liquid-rich basins. During the first quarter, HWR initiated work under a three-year contract with Shell to serve a significant portion of their water transport needs in the Eagle Ford, Haynesville and Marcellus/Utica basins. HWR also received additional produced water volume commitments from Chevron and Chesapeake in the routes where HWR can provide optimum water transport efficiency. These commitments and long-term contracts secure the majority of HWR’s produced water volumes in the gas basins and have provided the HWR business with steady operations in these basins despite the reduction in drilling and completions.

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