FT. WORTH, Texas – Galenfeha, Inc., (OTCBB: GLFH) announced today it has completed the acquisition of Daylight Pump, LLC, which makes it the manufacturer of one of the most accurate chemical injection pumps in the oil and gas production market.
This new product line will have a positive impact on the company's revenue growth in the coming months by allowing Galenfeha to penetrate the chemical injection pump market for oil and gas producers.
The pump system's design and technology allows for increased chemical injection accuracy previously unheard of in the current market. Such increased accuracy significantly reduces chemical contamination in the production process while controlling chemical cost and waste. Galenfeha will be moving production to the company's manufacturing and distribution facility in Shreveport, Louisiana.
"We are happy to announce the completion of the Daylight transaction," said James Ketner, President and Chief Executive Officer of Galenfeha. "The acquisition adds additional products to our revenue stream and reaffirms our goals outlined on our 2015 Statement of Work disclosed in our latest filings with the Securities and Exchange Commission. The transaction delivers a significant premium to our stockholders and offers them, our business, and our business partners the opportunity to realize these additional benefits from the synergies of the combination."
The chemical injection market share approaches $1 billion annually in the United States and North America, alone. Galenfeha will market, service and sell the individual and complete systems via direct sales as well as established relationships with local and national distribution partners such as Fleaux Services of Louisiana, LLC.
About Daylight Pump, LLC
Daylight Pump, LLC is a unique and exciting manufacturer in the industry with the advent of a revolutionary, hybrid, electric over pneumatic system which merges the positive benefits of both aspects of chemical injection modalities. The pneumatic based system easily services the very high-pressure environment of many of today's oil and gas locations. The electric rate control brings a new level of precision to the fluid volume control management. The combination of these two parameter control systems represents a measurable shift in efficiency, reliability, cost management, and profitability to individual well locations as well as entire production fields.
About Galenfeha, Inc.
Galenfeha (OTCBB: GLFH) is a design, engineering, and manufacturing firm with a focus on stored energy and a conscious pursuit of low environmental impact product development. Galenfeha also proudly designs, manufactures and markets a complete line of patent pending, microprocessor controlled, LiFePO4 chemistry battery systems, as well as a full line of proprietary chemical injection systems.
For more information on Galenfeha's products and services, please visit www.galenfeha.com.
President/Oil and Gas
SOURCE Galenfeha, Inc.
Web Site: http://www.galenfeha.com