Heckman Corporation (NYSE: HEK), a water solutions company that provides turnkey sourcing, engineering, design and operation of integrated water pipeline gathering and management systems for oil, gas, coal mining, and utility systems has issued a purchase order for 200 Peterbilt 367 liquefied natural gas (LNG) trucks, making it the largest LNG Transport fleet in North America.
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The Peterbilt 367 liquefied natural gas (LNG) trucks will incorporate Westport Heavy Duty Systems (Westport HD), from Westport Innovations Inc. (TSX, NASDAQ: WPRT), a global leader in alternative fuel, low-emissions transportation technologies.
Heckmann Corporation (NYSE: HEK) was created to buy and build companies in the water sector, and provides turnkey sourcing, engineering, design and operation of integrated water pipeline gathering and management systems for oil, gas, coal mining, and utility systems.
According to the latest Heckman news release, Heckmann is not doing this all alone. Encana Natural Gas Inc., a subsidiary of Encana Corporation, a subsidiary of Encana Corporation (TSX, NYSE: ECA), and Peterbilt Motors Company, a division of PACCAR Inc. (NASDAQ: PCAR), are part of the team which will help transition the Heckmann truck fleet from traditional diesel vehicles to natural gas vehicles (NGVs).
Although the purchase price of NGVs is higher than diesel trucks, the significantly reduced life cycle operating cost of NGVs is conducive to operating the heavy-duty trucks on natural gas. Additionally, because of cleaner combustion, the average operating life of NGVs is considerably longer.
Richard J. Heckmann, Chairman and CEO of Heckmann Corporation, stated: “We are proud to be the first oil and natural gas services provider to offer LNG trucks to our clients and to operate the largest fleet of LNG trucks in North America.
“There are abundant natural gas resources here in our own country, produced by our own citizens,” Mr. Heckmann continued. “Programs like the one we have established with Encana are critical in bringing attention to the phenomenal opportunity available in the U.S. to rid our nation of the foreign oil tax. With Encana, we will do our part by converting our fleet to NGVs, and we encourage all companies to identify solutions that will eliminate our country’s dependence on oil imported from the Middle East.”
For the record, the Westport 15 liter HD engine is certified and compliant to 2010 U.S. Environmental Protection Agency and California Air Resources Board emission standards in North America.
“This is the first LNG truck order by a natural gas industry service provider,” said David Demers, CEO of Westport Innovations. “HWR and Encana are leading the way to leverage the clean, abundant, and domestically available natural gas. The fuel is inexpensive relative to diesel and its availability for this application makes an economic win-win for both HWR and Encana as well as the significant environmental benefits including up to 30% lower greenhouse gas emissions.”
The net effect, according to Westport, centers on when LNG is deployed in upstream natural gas operations. A critical infrastructure is created and additional market demand for natural gas is stimulated in fleet transportation, including light-duty commercial fleets and other heavy-duty off-road operations, as well as natural gas drilling rigs, pressure pumping services and freight transportation.
Beyond the natural gas sector, momentum also builds for increased natural gas use in other sectors, such as mining and construction, and the cumulative benefits of expanded natural gas use results in multiple economic and environmental benefits for society.
This drive to more nat-gas use will place America in a better energy position for sure.
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Full Disclosure: Frank Sherosky, is author of "Awaken Your Speculator Mind" but does not hold any stock or option positions in these equities at this time.
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About the Author: After 39 years in the auto industry as a design engineer, Frank Sherosky now trades stocks and writes articles, books and ebooks via authorfrank.com, but may be contacted here by email: FrankS@TorqueNews.com
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