ABOUT PLATINUM ENERGY SOLUTIONS
Platinum Energy Solutions, Inc (PES) is a Houston, Texas based oilfield services provider specializing in premium hydraulic fracturing, coiled tubing and other pressure pumping services. We commenced hydraulic fracturing services on August 29, 2011 for Petrohawk Energy Corporation (“Petrohawk”) in the Eagle Ford Shale. We commenced acid fracturing services on October 24, 2011 for El Paso E&P Company, L.P. (“El Paso”) in the Altamont Field in Utah. We commenced hydraulic fracturing services for Encana Oil & Gas (USA), Inc. (“Encana”) in the Haynesville Shale on November 29, 2011. We utilize modern, high pressure-rated fracturing equipment that allows us to handle challenging geological environments, reduce operating costs, increase asset utilization and deliver excellent customer service. In addition, we have established contracts for wet and dry sand supply and physical capabilities around the transport, processing and storage of sand used in the hydraulic fracturing process. We believe this will be a competitive advantage, particularly given the current market constraint in the supply of dry sand. Our management team has extensive industry experience providing completion and workover services to exploration and production (“E&P”) companies.
PES service facilities are strategically located to capture high market demand which we believe will promote growth in the company . Each core business delivers a wide range of oilfield services that are synergistic in nature, however depending on the application; each division has the ability to generate revenue on a stand-alone basis.
We plan to focus on the most active unconventional oil and natural gas plays in the United States where we believe we will have a competitive advantage due to the high performance and durability of our equipment. In addition, we may consider expanding our business to include other unconventional and conventional oil and natural gas formations, including certain areas of the Marcellus and the Utica Shales in the Appalachian Basin in Pennsylvania and West Virginia, the Permian Basin in western Texas and southeastern New Mexico, the Niobrara Shale in Colorado, Wyoming and Nebraska, the Granite Wash formation in Oklahoma and the Bakken Shale in North Dakota and Montana.
The framework of our business model is structured with the following core values: customer relationships, value added service offerings, solid company infrastructure, and finance. PES utilizes its broad customer base to bring value to its shareholders. In doing so, we expect that our innovative services will be recognized throughout the industry and as a result will attract new customers thus increasing our customer base to reach our maximum potential. Our organization is currently aligned whereby specific goals and expectations are set for each associate role and by managing their performance metrics, we will create a more goal-oriented culture for our company. We determine our associate's core values and capabilities and offer training in areas considered most necessary. PES has been and will continue to deliver value added services to our clients and with the ability to perform the more complicated, high end type of operations that are currently in demand.