The orders are for the upgrade and conversion of additional diesel generators on drilling rigs for operation using APG's Turbocharged Natural Gas(TM) Dual Fuel System. SourceOne Engine Equipment, LLC, our domestic Dealer/Certified Installer booked the orders. While the end customers were not disclosed for proprietary reasons, a recent industry survey ranked these three companies among the top 50 oil and gas exploration and drilling companies in the United States.
Lyle Jensen, CEO of American Power Group stated, "Currently more than 20 of the top oil and gas exploration companies in the United States are running APG's Turbocharged Natural Gas(TM) Dual Fuel System on their drilling rigs with over 75% of those running multiple dual fuel powered drilling rigs. During April, we invoiced a record $1 million in oil and gas related revenue based on previously announced and new orders." Mr. Jensen added, "At a time when global diesel prices continue to escalate, the ability for oil rig operators to use our dual fuel technology with either inexpensive well-head gas or plentiful domestic natural gas as a supplemental fuel provides a significant competitive advantage over operators running on 100% diesel fuel."
Information gathered from Etrade - APGI NEWS
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