Exterran Corp. has been awarded a new contract operations project for its Exterran Water Solutions business, which was included in the company’s previously communicated multi-year forecast. With this new project, water will now comprise over 25% of the total company’s contract operations backlog, Exterran said Sept. 23.
Andrew Way, Exterran’s President and CEO commented, “As we have shared over the past couple of quarters, we expected to win at least one more incremental water ECO award and I’m happy to announce that we have now been awarded the contract. This is a long-term multi-year contract that will treat over 150,000 barrels of water per day, leveraging our gas flotation technology. Water is now over 25% of our backlog for ECO and continues to highlight our transition and transformation. Our sustainable fully integrated gas and water solutions continue to help our customers lower their emissions and fresh water usage. Commercial activity as a whole remains strong with a growing opportunity set and we remain confident in further awards in the quarters to come, but exact timing remains the biggest challenge.”
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