UOP LLC, a subsidiary of Honeywell International Inc. (HON - Analyst Report), recently announced that its UOP Russell equipment has been selected by PennTex Midstream Partners to recover valuable Natural Gas Liquids (NGL) in Northern Louisiana. The production is expected to start by the first quarter of 2015.
PennTex operates leading energy logistics business through strategic partnerships with its customers. The UOP Russell solution provides supply and installation of modular cryogenic, dehydration, acid gas removal, residue compression, control system and site electrical equipment for office, control room, motor control center and compressor requirements. This will facilitate to meet the increasing demand of midstream services in Northern Louisiana.
Meeting PennTex's requirement for faster installation and reliable production, the UOP Russell modular equipment offers superior quality control. The equipment is likely to process 200 million cubic feet per day of natural gas and can easily be shipped to distant locations where gas is discovered in a cost-effective manner. This helps customers to quickly begin processing gas and augment revenues.
The UOP Russell's modular construction approach is competitive in comparison to other approaches, facilitating faster assembly and allowing equipment to enter into service up to six months faster than other approaches.
Honeywell, the parent company, is a global diversified technology and manufacturing firm with a wide range of products and services. These include control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation.
Honeywell currently has a Zacks Rank #3 (Hold). Other stocks that look promising and are worth a look now include CLARCOR Inc (CLC - Snapshot Report), Icahn Enterprises, L.P. (IEP - Snapshot Report) and Noble Group Ltd. (NOBGY - Snapshot Report), each carrying a Zacks Rank #1 (Strong Buy).