Tuesday, 10 February 2015 09:15 AM
FT. WORTH, TEXAS / ACCESSWIRE / February 10, 2015 / Galenfeha, Inc., (OTCBB: GLFH) is proud to announce that the company's asset tracking system is now being utilized by six major oil and gas entities to enhance loss prevention protocols.
Galenfeha continues to solidify its brand within the American oil and gas industry via the Company's proprietary, satellite/CDMA driven asset-tracking service, incorporated into the Company's patent-pending, LiFePO4 battery systems.
This tracking and recovery system has proven to be an economical and effective stop-loss program for measurement and production companies, boasting a 100% asset recovery statistic. On January 10, 2015, a well site location was selected by a large, mid-stream, natural gas transfer corporation operating in the East Texas field for utilization of Galenfeha's battery product. This particular field was selected secondary to critical, off-grid power viability concerns and recurrent theft issues that led to locations being sent into inadvertent emergency shutdown.
On January 31, 2015, a Galenfeha battery was stolen at approximately midnight CST. The asset tracking system performed flawlessly. Within three hours of the unit being stolen, an arrest was made and the asset recovered and returned to service. This represents a minimum production downtime for the client and a 100% recovery record for the Galenfeha system.
Galenfeha's President and CEO James Ketner stated, "Our technology is beginning to gain traction with large oil and gas producers. Although we have seen a significant decline in the price of oil and gas over the last 6 months, this has not affected our sales growth. Our technology saves oil and gas producers' money, as well as being environmentally friendly."
About Galenfeha, Inc.
Galenfeha (OTCBB: GLFH) is a design and engineering firm with a focus on the oil and gas industry and a conscious pursuit of low environmental impact product development. Galenfeha designs, manufactures and markets a complete line of patent pending, microprocessor controlled, LiFePO4 chemistry battery systems for measurement, automation and a full line of proprietary chemical injection systems.
For more information on Galenfeha's products and services, please visit www.galenfeha.com.
Contact:
LaNell Armour
Director
Galenfeha, Inc.
[email protected]
773-879-6384
Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as "anticipate," "believes," "estimate," "expect," "should," "intend," "projects," "objective," and "appears," and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company's management, as well as assumptions made by and information currently available to the Company's management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Company's SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments.
SOURCE: Galenfeha, Inc.