Capstone Turbine Corporation announced that it has received a follow-on order from the oil and gas company for a C1000 Signature Series microturbine for a remote oil field in West Texas. The long-term rental order, secured by Lone Star Power Solutions, is expected to be delivered and commissioned in January 2021.
This order supports the future expansion of Capstone’s long-term rental fleet from the current 8.6 megawatts (MWs) to its target of 10 MWs by March 31, 2021. Management’s goal is to reach a rental fleet size of 21.1 MWs by March 31, 2022, to provide a sustainable high-margin source of revenue. Capstone continues to see an increase in global demand for long-term rental systems, a trend that management expects will accelerate as the world rebounds from the COVID-19 pandemic.
Fueled by pipeline gas, the C1000S rental system will produce electricity to power on-site equipment. Capstone microturbines align with the needs of oil and gas producers as they can be used in all phases of production operations, including upstream, midstream, and downstream in both onshore and offshore applications.
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