New TECH Fort Worth Acceleration Client

Poseidon Saltwater Systems recovers drilling wastewater

FORT WORTH, Texas (Oct. 25, 2011) –Poseidon Saltwater Systems, Inc.,which has a patent-pending process for saltwater waste recovery in the oil and gas industry, has been accepted as an Acceleration Client by TECH Fort Worth.

The disposition of saltwater is a necessary, yet costly, function for operators, who traditionally pump wastewater back into the ground. Poseidon Saltwater Systems offers a collection procedure that allows for the mechanical evaporation of saltwater and harvesting of the salt for re-use. This method provides companies with cost savings and environmental “best practices” by eliminating the truck traffic normally needed for the transportation of wastewater.

Poseidon’s system can dispose of production saltwater by a direct line into a central facility.  On less than 7 acres, a stand-alone facility can effectively dispose of 10,000 barrels per day of saltwater.

According to Dennis Hudgens, founder and CEO, the benefits of this new saltwater system include:

• The cost to build this facility is typically half that of a traditional disposal well.
• The carbon footprint is greatly reduced by eliminating disposal truck traffic.
• A former waste product (salt) is recycled and a portion of the water can be recaptured.
• The facility can be completely dismantled at the end of its life, leaving no lingering danger to the environment.

Mr. Hudgens, who is also the inventor named in the patent, has more than 20 years of experience in all facets of the oil and gas industry.   He has been looking for a solution to the saltwater issue since he got started in the industry.  He always thought there should be a better way to dispose of the water at a lower cost, with a side benefit that it would be better for the environment.

Darlene Ryan, Executive Director of TECH Fort Worth said, “Poseidon Saltwater Systems is a great addition to our client group.  What we like is the combination of a technology that is good for the environment and good for the local economy.  We have worked with them on the business model and are now helping them put together their bank financing.  We hope to see the first system in operation by early next year.“

TECH Fort Worth is a nonprofit technology business incubator that helps companies commercialize their products, with particular emphasis on technologies that potentially have a major impact in the areas of the environment, health and community.

TECH Fort Worth is a nonprofit technology incubator with offices at the James E. Guinn Complex in Fort Worth South and at the UNT Health Science Center’s Center for BioHealth. For more information, call Darlene Ryan, Executive Director, at (817) 984-9840, email her at darlene@techfortworth.org or go to www.techfortworth.org.