Scottsdale 5/20/2015 8:00:00 PM
News / Stocks

QualityStocks News - Galenfeha (GLFH) Establishing Presence in Oil and Gas Industry through Launch of iWav System

QualityStocks would like to highlight Galenfeha, Inc. (OTC: GLFH), an engineering, product development, and manufacturing company that provides innovative solutions for oil and natural gas production, as well as stored energy products across a number of different industries. The company provides these products and services through its stored energy and oil & gas division.

In the company’s news:

With global oil prices continuing to hover near six year lows, the domestic oil and gas industry is scrambling to locate potential savings, particularly throughout the production process. Galenfeha, Inc., through its recently launched iWav chemical injection control system, is providing the industry with a more cost efficient, environmentally responsible solution to well site management.

“Shale producers have asked us to help them cut costs, and this latest addition to our product line helps meet these goals,” stated James Ketner, President and Chief Executive Officer of Galenfeha.

The iWav is a state-of-the art supervisory control and data acquisition (SCADA) system created specifically for use with chemical injection pumps. Using a system that the company has compared to the computer-controlled fuel injection systems of the automotive industry, iWav provides users with complete control of the chemical injection process through a collection of fully configurable applications. Available for use with a variety of communication mediums, the company’s proprietary system gives operators the ability to increase or decrease chemical injection rate, turn on or off pumps, and monitor tank levels in real time through SCADA. In this way, the company’s revolutionary platform opens the door for potentially massive savings and dramatically increased efficiency throughout fracking processes.

Fracking and horizontal drilling have been established as hot button issues in major markets around the globe. Despite the controversy, the economic benefits of lower energy costs and the environmental benefits of a lessened dependence on coal make fracking a favorable option for energy producers moving forward. In North America, the chemical injection market is rapidly approaching $1 billion annually, and technological advances such as the iWav should encourage continued growth in the future.

Through its commitment to providing new solutions to aid energy producers in increasing efficiency and reducing global pollution, Galenfeha is in a strong position to grow with the industry. With over 45,000 fracking wells drilled in the United States in 2012, according to Statista, it’s clear that the company’s growth potential within the domestic market is significant. Look for Galenfeha to make major waves in the industry moving forward through the continued expansion of its iWav control platform.

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.