HNRC Subsidiary Secures Equipment Financing
Houston Natural Resources Corp. (OTC: HNRC) announced financing of $300,000 for its wholly-owned subsidiary, HNR Oil Services, LLC.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Houston Natural Resources Corp. (OTC: HNRC) announced financing of $300,000 for its wholly-owned subsidiary, HNR Oil Services, LLC. This investment will enable a more than threefold increase in operating capacity at its YO Ranch SWD processing facility, allowing disposal of up to 25,000 barrels per day of oil field wastewater.
Projected monthly revenues are expected to exceed $300,000, with net operating income estimated at $225,000. The company aims to expand its operations by adding four more facilities in oil and gas producing regions over the next five years.
Positive
- Secured $300,000 in financing for new equipment.
- Increase in operating capacity by over threefold at the YO Ranch SWD facility.
- Projected monthly revenues exceeding $300,000 with net income of $225,000.
- Plans to expand with four additional processing facilities in key regions.
Negative
- None.
Details
News Market Reaction – HNRC
The recorded move for HNRC in the trading session of this news was +26.67%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, May 7, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that HNR Oil Services, LLC, a wholly owned subsidiary of Houston Natural Resources Inc, the operating company of HNRC has closed
The equipment will provide substantial expansion of HNR Oil Services operating capacity in excess, of three times its current capacity. With this additional equipment HNR Oil Services LLC will provide the capacity to dispose of up to the state permitted capacity of 25,000 Barrel per day of highly toxic oil field wastewater. We expect our months revenues to increase to in excess of
The company's subsidiary HNR Oil Services LLC owns a water treatment and disposal facility located in Wilson County, Texas that exceed all state and federal regulatory requirements, provide maximum environmental protection and will generate multiple streams of revenue for the company via the saltwater disposal and byproduct remediation.
HNR Oil Services anticipates a rapid expansion with four additional processing facilities across all suitable oil and gas producing regions, increasing to seven facilities in the next five years.
About Houston Natural Resources Corp
Houston Natural Resources Corp (www.HoustonNaturalResources.com) (OTC:HNRC). The Company is dedicated to increasing shareholder value through developing natural resources with state-of-the-art innovative technologies in tandem with sustainable environmental services of toxic oil field waste disposal and recycling that are environmentally safe and socially responsible.
FORWARD-LOOKING STATEMENTS:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance or results and involve a number of risks and uncertainties.
Contact:
frank@HoustonNaturalResources.com
757-707-4563
Houston Natural Resources Corp.
View original content:http://www.prnewswire.com/news-releases/hnrc-subsidiary-secures-equipment-financing-301286694.html
SOURCE Houston Natural Resources Corp.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.