Printer Friendly

O'BRIEN ENVIRONMENTAL ENERGY TO ENTER ARGENTINA POWER MARKETS

 O'BRIEN ENVIRONMENTAL ENERGY TO ENTER ARGENTINA POWER MARKETS
 PHILADELPHIA, May 11 /PRNewswire/ -- O'Brien Environmental Energy (AMEX: OBS), a leading energy project developer, today announced it has entered into an exclusive joint venture with one of Argentina's largest natural gas producers, BRIDAS S.A.I.P.C.
 The venture, in which O'Brien and BRIDAS will share equally, will develop, build, own and operate new power products in Argentina, primarily with industrial gas customers of BRIDAS, which export products for hard currency.
 "Like many nations today, Argentina is in the process of privatizing state-owned enterprises, including the electric power sector," said Bruce Levy, O'Brien vice president. "Due to its stable infrastructure and rapidly growing power demands, Argentina represents an excellent new market. BRIDAS' oil and gas reserves, financial strength and knowledge of power project opportunities are a good fit with our development, construction and operational expertise," he said.
 In 1991, BRIDAS produced a total of 67,649 barrels of oil and 35 million cubic feet of natural gas per day. The company has proven reserves of 154 million barrels of oil and 2,578 billion cubic feet of natural gas. BRIDAS reported 1990 revenues of $263 million, net earnings of $21.3 million and total assets of $806 million.
 -0- 5/11/92
 /CONTACT: Hal LeVay of Porter, LeVay & Rose, Inc., 212-564-4700, for O'Brien Environmental Energy/
 (OBS) CO: O'Brien Environmental Energy; BRIDAS S.A.I.P.C. ST: Pennsylvania IN: OIL SU: JVN


BR-BN -- NY041 -- 8549 05/11/92 10:57 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 11, 1992
Words:250
Previous Article:PEPSI-COLA AND CINDY CRAWFORD TEAM UP FOR "GOTTA HAVE IT" FUN -- ALL SUMMER LONG
Next Article:PITT RESEARCHERS TO STUDY AND TREAT COCAINE ADDICTS
Topics:


Related Articles
O'BRIEN ENVIRONMENTAL CLOSES 4 MILLION SHARE EQUITY OFFERING
/C O R R E C T I O N -- O'BRIEN ENVIRONMENTAL/
O'BRIEN UNDERWRITERS EXERCISE OVERALLOTMENT OPTION TO PURCHASE 585,300 SHARES
O'BRIEN UNDERWRITERS EXERCISE OVERALLOTMENT OPTION TO PURCHASE 585,300 SHARES
O'BRIEN ENERGY ANNOUNCES UK BIOGAS PROJECT
O'BRIEN ENVIRONMENTAL ENERGY REPORTS SECOND QUARTER & SIX MONTHS RESULTS
O'BRIEN ENVIRONMENTAL ENERGY ANNOUNCES 22-MEGAWATT, 20-YEAR POWER PROJECT WITH PHILADELPHIA WATER DEPARTMENT
O'BRIEN ENVIRONMENTAL CLOSES $1.8 MILLION BIOGAS 'SOFT ASSET' SALE
O'BRIEN DONATES GENERATORS TO FLORIDA RELIEF EFFORTS
Kentucky Supreme Court Upholds Environmental Cost Recovery Mechanism For LG&E And KU.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters