HNRC Subsidiary Secures Equipment Financing

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.

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 $300,000 in financing for additional equipment. The new equipment will more than triple HNR Oil Services, LLC operating capacity at its YO Ranch SWD processing facility.

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 $300,000 per month with an estimated $225,000 per month of Net Operating Income. The company anticipates an increase in income from oil recovery sales from the new equipment.

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

What financing did HNRC announce on May 7, 2021?

HNRC announced $300,000 in financing for additional equipment to enhance its operational capacity.

How much will HNR Oil Services' operating capacity increase?

The operating capacity at HNR Oil Services' YO Ranch SWD facility will increase by more than threefold.

What are the expected monthly revenues from the new equipment?

Monthly revenues are anticipated to exceed $300,000.

What is the projected net operating income for HNRC?

The projected net operating income is expected to be around $225,000 per month.

How many additional processing facilities does HNRC plan to establish?

HNRC plans to establish four additional processing facilities across suitable oil and gas producing regions.