This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Capstone Receives Another Significant Order In The Vietnam Oil & Gas Market

CHATSWORTH, Calif., July 8, 2013 (GLOBE NEWSWIRE) -- Capstone Turbine Corporation ( www.microturbine.com) (Nasdaq:CPST), the world's leading clean technology manufacturer of microturbine energy systems, today announced it received an order to provide four C200 C1D2 Capstone microturbines to a leading oil and gas producer for two offshore platforms in Vietnam.

Located in the Cuu Long basin off southern Vietnam, the platforms are expected to yield an oil flow of approximately 50,000 barrels per day combined and generate a production value of approximately 5 million U.S. dollars per day.

The four C200 C1D2 microturbines will run on wellhead gas that flows through the offshore platforms, which eliminates the need for special fuels to be shipped to the platform. The microturbines will provide all power on the platforms. They are Optimal UL Class 1 Division 2 or ATEX Class 1 Zone 2 certified for use in hazardous areas, take up minimal space because of their small footprint, and require very limited maintenance.

The C200s will be installed in May 2014 and are expected to be commissioned in August 2014.

"We are proud to introduce highly reliable Capstone microturbines to Vietnam's oil and gas market," said Do Long Phi, Managing Director, ADA Engineering Co. Ltd., Capstone's distributor in Vietnam. "Winning this major project over gas engine competitors demonstrates the significance of microturbine reliability in the buying decision. As Vietnam's oil and gas production continues to grow, I strongly believe highly reliable microturbines will play a key role in both onshore and offshore markets. Currently oil and gas revenues serve about 20 percent of the country's gross domestic product."

With an estimated population of 90.3 million in 2012, Vietnam is the eighth-most-populous Asian country in the world, and 13th-most-populous country.  

Across the globe, Capstone microturbines reliably power oil and gas producing operations using unprocessed wellhead gas to generate continuous power. Capstone platform power solutions require little maintenance and avoid fuel transport and disposal of hazardous lubricants.

Stock quotes in this article: CPST 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs