February, 2016
GTUIT®, LLC announced today raising additional financing from the continued support of its investors through exercise of options. As part of a preferred round of financing, investors received options to purchase additional units of the same class for a one year term. The one year term expired in December of 2015 with a majority portion of the options being exercised.
October, 2015
By capturing, using and selling flare gas that otherwise would be released into the environment, Hess Corporation is reinforcing its commitment to sustainable operations—and the World Bank is taking notice.
In September, in Khanty-Mansiysk, Russia, Caterpillar Oil & Gas accepted an award of excellence from the World Bank Global Gas Flaring Reduction Partnership (GGFR) on behalf of Hess and GTUIT, a manufacturer of mobile gas treatment systems in which Caterpillar is a minority shareholder. Hess is using 15 of GTUIT’s mobile gas capture and natural gas extraction units at well sites in North Dakota’s Bakken oilfield.
October, 2015
Crude oil producers in the Bakken region responded to the oil price collapse with drilling cutbacks and a laser-like focus on sweet-spot areas with high initial production rates. It turns out those oil sweet spots also produce a lot of associated natural gas. But there’s not enough infrastructure in place to deal with the extra gas, and that’s slowing North Dakota’s efforts to reduce flaring (burning gas that can’t be utilized for various reasons). Today, we consider the multiple, domino-like effects that low oil prices are having on one of the U.S.’s most important tight oil plays.
September, 2015
GTUIT®, LLC ( www.GTUIT.com), Billings, MT announced today that the World Bank Global Gas Flaring Reduction Partnership presented an award of excellence to Hess Corporation and its partner GTUIT/ Caterpillar Oil and Gas.
The award is for “Flare Reduction in the Bakken, USA”, and is tied to the successful use of GTUIT’s well site gas capture and natural gas extraction units at several of Hess’s well sites in North Dakota.
September, 2015
GTUIT®, LLC today announced that it has recently surpassed 20 MMCFD (million cubic feet per day) of deployed well site natural gas processing capacity. The most recent GTUIT system deployment is a follow-on order from one of the leading producers in the Bakken. GTUIT continues to ship units and grow its processing capacity in face of declining commodity prices and rig counts.
July, 2015
GTUIT®, LLC today announced that it recently passed the two billion cubic feet of Bakken flare gas captured. GTUIT® was an early pioneer of well-site technology to significantly reduce flared gas volumes and emissions, long before regulations were put in place. GTUIT works with the leading Bakken producers to reduce flare volumes utilizing its innovative technology and unmatched service.
July, 2015
GTUIT®, LLC today announced that it recently received ISO 9001:2008 Certification for its manufacturing quality management system. This Certification is based on implementing quality management principles that include a strong customer focus, the motivation and commitment of top management and process approach for continual improvement. Using ISO 9001:2008 helps GTUIT ensure that customers get consistent, high quality equipment and services, which in turn brings many business benefits.
April, 2015
Caterpillar Oil & Gas plans to collaborate with GTUIT to deliver innovative, sustainable solutions to treat associated gas from production wells to cut emissions and create customer value.
