HNRC Doubles Production Capacity

Rhea-AI Summary

Houston Natural Resources Corp. (OTC: HNRC) announced the acquisition of new equipment by its subsidiary HNR Oil Services LLC to enhance processing capabilities. The facility will expand its capacity to 50,000 barrels per day, with anticipated earnings of $10 million at full production. This upgrade includes a new thermal desorption unit, creating an additional revenue stream. HNR Oil Services plans to rapidly expand to seven facilities in the next five years. HNRC aims to up-list onto a major exchange and is preparing SEC filings to become a reporting company.

Positive

• Expansion of processing capacity to 50,000 barrels per day.
• Expected earnings of $10 million at full production.
• Introduction of a thermal desorption unit for additional revenue.
• Plans for rapid expansion to seven facilities within five years.

Negative

• None.

HOUSTON, July 9, 2021 /PRNewswire/ -- Houston Natural Resources Corp. (OTC: HNRC) ("HNR or the Company") announced today that its subsidiary HNR Oil Services LLC has completed the purchase of additional equipment to increase its processing capabilities. The new equipment is expected to be fully operational in the third quarter of this year.

The new equipment will allow the company to expand its processing capabilities to fifty thousand barrels per day. The facility is currently permitted for disposal of twenty-five thousand barrels per day of oil field toxic waste fluids and is permitted and will soon expand to sterilizing oil field toxic solids waste. These unique permits have allowed HNR Oil Services to issue its customers a Texas State Certificate of Destruction of such toxic waste. This is an especially important step in environmental protection by keeping toxic materials out of land fields.

The company receives fees for processing the water and oil sales from the separation of the oil from the water. At full production the facility would generate $10 million in earnings.  

The company intends to acquire a thermal desorption unit where solids are transferred, rehydrated, and cooled. The solids are transferred to the road base blending area via a roll-off box and loaders for further blending. The road base material is then blended via pugmill. This would be a third source of revenue for the company.  

The company's subsidiary 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 through existing financing sources.

HNRC is a diversified holding company that has two subsidiaries, Houston Natural Resources, Inc ("HNRI") and Worldwide Diversified Holdings, Inc ("WDHI"). HNRI owns oil and gas properties and a waste-water treatment plant. WDHI has business operations that provide products & services in the Information Technology & Healthcare markets. HNRC anticipates up listing onto OTCQX or major exchange. The company is preparing an SEC filing to become an SEC reporting company.

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.
 

About Worldwide Diversified Holdings, Inc.

Worldwide Diversified Holdings, Inc.(www.wdhinc.net). The company is a diversified holding company with business operations and investments. The portfolio companies include investments in information technology and healthcare.

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:

Houston Natural Resources Corp.
frank@HoustonNaturalResources.com  
757-707-4563

View original content:https://www.prnewswire.com/news-releases/hnrc-doubles-production-capacity-301328823.html

SOURCE Houston Natural Resources Corp.

FAQ

What is Houston Natural Resources Corp. planning to do with the new equipment?

Houston Natural Resources Corp. plans to enhance its processing capabilities, increasing capacity to 50,000 barrels per day with the new equipment.

How much will the facility generate after the upgrade?

The facility is expected to generate $10 million in earnings at full production.

What is the timeline for the new equipment to become operational?

The new equipment is expected to be fully operational by the third quarter of this year.

How many processing facilities does HNRC plan to have in five years?

HNRC plans to expand to seven processing facilities in the next five years.

What are the future plans for HNRC regarding stock exchange listings?

HNRC intends to up-list onto the OTCQX or a major exchange and is preparing SEC filings to become an SEC reporting company.