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Capstone Receives Follow-On Order For 30 C65s From U.S. Oil And Gas Exploration And Production Company

Stocks in this article: CPST

CHATSWORTH, Calif., Feb. 6, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( www.capstoneturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced that it continues to expand its presence in the Eagle Ford Shale Play with another follow-on order for 30 C65 microturbines from a U.S.-based oil and gas exploration and production company.

The oil and gas exploration and production company's operations are located primarily in the United States with natural-gas exploration and production onshore in the lower 48 states, onshore in Alaska, and offshore in the deep waters of the Gulf of Mexico. This latest order brings their total C65 fleet to approximately 150 microturbines. Most of the C65 units were purchased by the oil and gas producer's production division and are utilized for lease automatic custody transfer (LACT) units. In addition, the company's mid-stream division has previously purchased seven C600s and one C800 making the company one of the largest Capstone users in North America.

Capstone distributor Horizon Power Systems secured this follow-on order to support the exploration and production company's growing power needs in the Eagle Ford shale play.

"These multiple follow-on orders indicate that Capstone microturbines are quickly becoming the chosen power system to meet the growing needs of major oil & gas exploration and production companies operating in North America," said Sam Henry, Horizon Power Systems President. "This order proves we are making serious inroads in meeting the customer's high-caliber power needs using Capstone's innovative microturbine technology."

Capstone continues its penetration of the North American oil and gas market with another substantial follow-on order from an existing end use oil and gas customer. "The oil and gas market continues to be our fastest growing market worldwide, and the repeat orders indicate our customers' satisfaction with our clean and green power generation solutions," said Jim Crouse, Capstone's Executive Vice President of Sales and Marketing.

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