Heckmann Corp. has a market cap of $626.17 million; its shares were traded at around $5.75 with and P/S ratio of 17.41.
Highlight of Business Operations:Headquartered in Palm Desert, California, the Company was incorporated in Delaware on May 29, 2007. We began our corporate existence as a blank check development stage company. On November 16, 2007, we completed an initial public offering (IPO) of 54,116,800 units (each consisting of one share of common stock and one warrant exercisable for an additional share of common stock), including 4,116,800 units issued pursuant to the partial exercise of the underwriters over-allotment option, and received net proceeds of approximately $421 million. On the same date, we also completed a private placement of warrants to our founders at an aggregate purchase price of $7 million, or $1.00 per warrant.
greater resources than us. Our strategy is to participate in the newly emerging subsector that is experiencing a convergence of water and energy expertise and technologies that will provide the commercial solutions rapidly being demanded by oil and gas producers, mining companies, and utilities. Specifically, through HWR and HWS we are building products and service solutions for dealing with expanding complex water flows anticipated by increased exploration in unconventional shale gas fields. These large discoveries, known as Shale Plays (e.g. Marcellus Shale, Haynesville Shale, Barnett Shale, Eagle Ford Shale, Fayetteville Shale) refer to previously inaccessible or non-economical depth formations in the earths crust now being exploited by advances in drilling technology that utilize high water pressure methods (or hydraulic fracturing) combined with proppant fluids (sand grains or microscopic beads) to crack open and exploit new perforation depths and fissures to extract large quantities of natural gas, oil, and other hydrocarbon condensates. Complex water flows represent the largest waste stream from these methods of hydrocarbon exploration and production. The energy industry creates daily water production volumes 2.5 times greater than oil volumes, making it vital to deal effectively and efficiently with produced water volumes at the surface. The market for produced water management and handling is estimated at $9.8 billion dollars over the next five years, and the market for produced water treatment systems is estimated at $4.3 billion dollars over the same period, according to The Produced Water Gamechanger Report 2010-2014, an industry report of OTM Consulting and energy business analysts, Douglas-Westwood, as cited in a March 2010 article of Water Online Newsletter Magazine.
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