Saltworks Technologies announces ConocoPhillips as an investor
May 23rd 2014
Saltworks Technologies has received investment funding from ConocoPhillips (NYSE: COP), making the Houston-based E&P company Saltworks’ third major industrial shareholder. Saltworks’ products are intended for robust and reliable operation in the world’s most demanding desalination applications.
With its investment, ConocoPhillips joins two of Canada’s leading resource and energy companies as an equity investor in Saltworks: Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK), Canada’s largest diversified resource company; and Cenovus Energy Inc. (TSX, NYSE: CVE), a Canadian oil company.
“Through their investments, ConocoPhillips, Teck and Cenovus have demonstrated their interest in Saltworks’ products and technologies. Our products align well with the needs of resource and energy companies, and are designed ground-up for safe and reliable operation in severe environments, providing maximum recovery at a low cost, and modularity for ease of service and dispatch,” said Saltworks’ CEO Ben Sparrow.
ConocoPhillips is the world’s largest independent E&P company based on production and proved reserves. Headquartered in Houston, Texas, ConocoPhillips had operations and activities in 27 countries, $62 billion in annualized revenue, $120 billion of total assets, and approximately 18,800 employees as of March 31, 2014. Production from continuing operations, excluding Libya, averaged 1,530 MBOED for the three months ended March 31, 2014, and proved reserves were 8.9 billion BOE as of Dec. 31, 2013. Visit ConocoPhillips for more information