Houston Natural Resources Secures Financing Commitment
The YO Commercial Facility will emphasize on the process of eliminating suspended solids, undesirable chemicals, oil and gases from contaminated water and solids. By the end of 2020, unit is projected to be generating HNRC roughly $250,000 per month of net operating income from the fluid disposal side alone.
FREMONT, CA: HNR Oil Services, a subsidiary of Houston Natural Resources, a global natural resource corporation announced that it has received a financing commitment for the procurement of its second saltwater disposal unit. Additionally, the firm has received a $1,000,000 commitment to fund its working capital need.
The second subdivision will be located at HNR Oil Services LLC YO Ranch Commercial Facility, which has now been effective with its initial unit. The new installment will rise the processing volume of the facility. The plant is allowed for discarding of twenty-five thousand barrel per day of oil field toxic waste fluids and will soon expand to sterilize oil field toxic solids waste. These exclusive permits have permitted HNR Oil Services to issue its consumers a Texas State Certificate of Destruction of such toxic waste. It is an essential step in environmental protection to help keep the toxic materials out of land fields. HNR Oil Services expects a rapid expansion with added four processing plants across all suitable oil and gas producing areas.
The YO Commercial Facility will emphasize on the process of eliminating suspended solids, undesirable chemicals, oil and gases from contaminated water and solids. By the end of 2020, unit is projected to be generating HNRC roughly $250,000 per month of net operating income from the fluid disposal side alone.
In the second segment of a two-phase strategy for development, HNRI is tracking the development and production of its established oil reserves along with acquiring producing and non-producing possessions with quantifiable production capabilities and reserves and production capabilities. The facility is retaining an investment bank to categorize potential transactions and offer financing. It predicts completing its audit in the fourth quarter. With the conclusion of the audited statements, HNRI aims to file a registration statement in the 2020 quarter for listing on to the NYSE under the reserved symbol of HNRI.
This year Houston Natural Resources Corp is completing two years of audited statements and plans up listing onto OTCQB in the fourth quarter. The company is preparing itself to become an SEC reporting firm. Furthermore, the business announced that its newly formed Delaware subsidiary has completed its initial audit.
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