Latitude Solutions, Inc.’s Clean Tech Group to Increase Focus on the Marcellus Shale Opportunity
The Marcellus Shale opportunity is a “once-in-a-generation energy and economic opportunity for Pennsylvania”, stated the president of the Pennsylvania Environmental Council. The Marcellus Shale formation underlies approximately three-fourths of Pennsylvania, parts of New York, West Virginia, Maryland and Ohio. There are currently 1,500 Marcellus Shale wells located in Pennsylvania today. It is estimated that another 35,000-50,000 wells could be drilled by 2030.
Importantly, state and environmental officials realize that dealing with the major water related environmental issues are now front and center regarding future development. We know that planning for and handling contaminated frac and product water issues will be the major environmental factor that needs to be addressed in this area in particular as well as globally.
LSI’s wholly-owned operating subsidiary, Latitude Clean Tech Group, Inc.’s, (“LCTG”), proprietary Integrated Water Systems TM technology is uniquely positioned to play a vital role in resolving these issues. LCTG’s propriety water remediation technology has successfully demonstrated it efficacy in treating Marcellus and similar waters as well as tailings waters in the Alberta Oil Sands and many other mining and drilling operations. As environmental policies and enforcement continue to tighten, the company has increased its focus in these areas with the intention of building strategic alliances with new and existing oil and gas service companies in order to take full market advantage of the use of our Integrated Water Systems TM technology in this major growth area.