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HEYCO: HEYCO Energy Group to Install First LNG Facility Dedicated to Energy Market
October 2, 2013
Dallas, Texas — HEYCO Energy Group, Inc. (HEYCO) announced today that it will install the first liquefied natural gas (LNG) facility dedicated to the energy sector and Southern Gulf Coast. The plant — located in Lavaca County to serve the Eagle Ford shale play — should be producing by the 4th Quarter of 2014.
“The economic and environmental benefits of LNG will transform the drilling and completion business in the coming years as more and more companies convert from diesel,” said George M. Yates, CEO of HEYCO. “We are in a unique position to provide our customers with a lower-cost, lower-emission fuel in the middle of the largest drilling boom our country has seen in years.”
The facility’s first stage production capacity will be 150,000 gallons per day, and expandable to 300,000 gallons per day within six to eight months as demand dictates.
“With a growing percentage of rigs converting from diesel to natural gas, and a small percentage of hydraulic fracturing units converting as well, it is apparent that many companies are eager to switch to LNG once they have a source,” said Christopher Coleman, President of HEYCO’s LNG division. “We are excited to have the capacity to serve that demand.”
HEYCO’s plant will target dual-fuel applications in the energy sector, specifically drilling rigs and hydraulic fracturing units as well as marine applications in the Southern Gulf Coast. The plant uses a Kryopak PreCooling Mixed Refrigerant (PCMR) process and was manufactured by Salof Refrigeration Co., Inc. in New Braunfels, Texas.
HEYCO Energy Group, Inc., is a U.S. holding company with subsidiaries and affiliates active in upstream oil and gas operations in the United States and Europe. HEYCO is a private company owned by members of the Yates family of Southeastern New Mexico, who have been active in the upstream oil and gas business since the 1920s. Visit www.heycoenergy.com to learn more.