Overview
Heckmann Corporation (NYSE: HEK) was created to buy and build companies in the water sector. On January 30, 2010, we completed our 50-mile water disposal pipeline in the Haynesville Shale which can treat and dispose up to 100,000 barrels of water per day. The new pipeline and our network of disposal wells are operated as wholly-owned subsidiary, Heckmann Water Resources Corporation. The completion of the pipeline makes us one of the largest handlers of produced water in North America. On February 9, 2010, we announced our joint venture with Energy Transfer (NYSE: ETP) to provide turnkey water infrastructure, gathering and treatment solutions for complicated water flows in the Marcellus and Haynesville oil and natural gas fields. In October of 2008, we acquired China Water & Drinks, Inc., and now operate seven bottled water facilities in China with Coca Cola as our largest customer. We also make strategic minority interest investments, such as our recent investment in water infrastructure solutions and pipeline supplier Underground Solutions, Inc. (OTC: UGSI). We have a strong balance sheet and seek additional acquisition opportunities as we build a worldwide enterprise. As of June 30, 2010, we had $235 million dollars in invested cash and cash equivalents. We intend to make additional investments and acquisitions as we find attractive long-term opportunities for our stockholders.
Heckmann Corporation Announces Second Quarter 2010 Finacial Results (64 KB 