- 665 Energy, Inc. positioned to supply upstream, midstream and downstream clients in oil and gas industry
- Global market for oil industry supplies expected to grow to $205 billion by 2020
- Company also advancing plans to expand into purchase, refurbish and resale of oil drilling rigs
The energy industry continues to form the bedrock of life-improving technological innovation more than a century after the end of the second Industrial Revolution, propelling global economies in which rapid transportation, mass manufacture and space satellite-enabled communication combine to elevate the standard of living for people around the world. As modern clean energy proponents work to inspire maturity in the industry, boots-on-the-ground companies such as 665 Energy, Inc. (OTC: SSOF) are helping to ensure that the precious gift of energy continues to propel living standards forward by supplying needed equipment and resources.
665 Energy is the parent corporation of Five Star Rig and Supply, Oklahoma Rig Fabricators and 66 Oilfield Services — companies that provide oilfield supplies and equipment, drilling rig refurbishing and inspection, and drill pipe parts and services. Its customers are companies active in all sectors of the industry pipeline, including contractors, repair companies, midstream operators, refineries and utilities. 665 Energy only recently completed the acquisition of Five Star Rig in July.
At a time when billions of people — almost 40 percent of humanity — only have access to basic forms of energy and maintain a low standard of living (http://nnw.fm/CT23n), the ability to keep energy resources flowing to a growing world population and explore ever-new ways to distribute it is critical. Chevron Corp. (NYSE: CVX) CEO and Chairman Michael Wirth recently cited a report by The International Energy Agency in projecting that energy demand will rise more than 25 percent by 2040, at least half of which will be required of the oil and gas industry in spite of low-carbon green energy innovations (http://nnw.fm/O5VlO) because of population growth and rising incomes.
As a holding company in the oilfield equipment and supply industry, 665 Energy has the scale and presence necessary to couple the right inventory with the right services for its wide variety of clients. The company is headquartered in Oklahoma City and has additional facilities in Germany and Dubai, granting it a worldwide reach and access to key industry production areas.
Market analysts at Statista predict that the global market for equipment to supply the industry will make quick gains from $194 billion in revenues now to $205 billion in 2020 (http://nnw.fm/M2c9V). 665 Energy president and CEO Jason Clayton reported recently that the company is expecting to secure at least $63.4 million in additional net profits (before financing costs) within the coming months from the purchase, refurbishment and resale of 11 oil drilling rigs (http://nnw.fm/I7iee), evidence of the company’s recent decision to expand into such a line of operations.
665 Energy is currently working to complete a full audit of its operations in preparation to meet U.S. Security and Exchange Commission standards and uplist to the OTCQB Venture Market by the end of the year (http://nnw.fm/3mSUB).
For more information, visit the company’s website at www.665Energy.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive instant SMS alerts, text STOCKS to 77948
For more information, please visit https://www.NetworkNewsWire.com