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March 11, 2014
07:16 EDTRCONRecon Technology receives new authorizatoin to provide services for Sinopec
Recon Technology announced that its BHD Petroleum Technology division has received a new oil field access Certificate from China's state-owned oil and gas exploration company, Sinopec, authorizing BHD to provide horizontal fracturing equipment and services at Sinopec's Northeast oilfield branch in China's Jilin Province. BHD has thus far provided fracturing equipment utilized at one of Sinopec Northeast oilfield's wells. That well produced revenue of approximately $196,721 for BHD. According to Sinopec's production plan, an additional 21 wells will require fracturing services in 2014, with a budget of approximately $326, 880 per well.
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