Company:GTUIT
| Type | Private |
|---|---|
| Industry | Oilfield Services |
| Founded | 2011 |
| Headquarters | Billings, Montana , |
Key people | Brian Cebull CEO, President and Co-founder Jim Haider CTO and Co-founder Mark Peterson COO and Co-founder |
| Website | gtuit |
GTUIT is a well site gas processing firm. The company's mobile equipment collects gas that would otherwise be flared and turns it into usable natural gas liquid and conditioned gas.[1][2] In 2015, the company received an equity investment from Caterpillar Inc.'s Oil and Gas division and signed a marketing deal with the company in 2016.[3][4][5] The company is headquartered in Billings, Montana and has a field office in Watford City, North Dakota.[6]
History
GTUIT was founded in August 2011 by the mechanical engineers, Brian Cebull and Jim Haider, and the chemical engineer, Mark Peterson after the three recognized the problems that flaring gas could cause. The company launched its first prototype, a device that separated and stored gases in 2012.[7] GTUIT deployed its second generation of equipment in 2013. The company's first customer was Denbury Resources.[8]
In April 2015, Caterpillar Oil and Gas made an equity investment in GTUIT, the funds raised by the investment allowed the company to expand manufacturing and seek new markets.[3] That same year the company received ISO 9001:2008 certification for its manufacturing quality management systems, the company also received an award from the World Bank Global Gas Flaring Reduction Partnership for its work with Hess Corporation in the Bakken region.[9][1]
In June 2016, the company signed a marketing agreement with Caterpillar Oil and Gas, the agreement allowed Caterpillar to sell and service GTUIT products.[5][10]
In September 2016, the company was ranked 203 on Inc.'s list of 500 fastest growing companies in the US.[11]
Operations
GTUIT designs, markets and operates mobile well site gas processing equipment that can be set up in a day. There are three processing capacities for the systems, 250 MSCFD, 500 MSCFD and 1000 MSCFD.[12] The systems are designed to capture gas that would otherwise be flared and remove and store valuable and harmful gasses from escaping into the atmosphere. The company uses a compression and refrigeration system that connects directly to the wellhead and can capture up to 3,856 tons of volatile organic compound emissions.[13] The collected natural gas liquids can then be trucked to markets and sold or depending on the gas can be used as on-site fuel.[14]
References
- ↑ 1.0 1.1 Olson, Erik (March 1, 2015). "Businesses Pushing Forward in Wake of Fallen Bakken Oil Price". Billings Gazette. http://billingsgazette.com/business/features/businesses-pushing-forward-in-wake-of-fallen-bakken-oil-price/article_14b6e161-7e20-5433-9d39-61e6f0d37cfd.html.
- ↑ Donovan, Lauren (September 29, 2015). "Hess, GTUIT Recognized for Efforts to Reduce Flaring". Bismarck Tribune. http://bismarcktribune.com/bakken/hess-gtuit-recognized-for-efforts-to-reduce-flaring/article_fd0804a7-6b54-5ada-97c7-51f1c6f3c6c4.html.
- ↑ 3.0 3.1 Olson, Erik (April 19, 2015). "Have You Heard: Billings Oilfield Firm Lands Major Partner". Billings Gazette. http://billingsgazette.com/business/columns/have-you-heard/have-you-heard-billings-oilfield-firm-lands-major-partner/article_d1f8f0a6-193c-523e-aa05-de6ad69bbee7.html.
- ↑ "Caterpillar Oil Joins GTUIT". Fairfield Sun Times. May 5, 2015. http://www.fairfieldsuntimes.com/business/article_76ae04c8-f357-11e4-bff1-233fdccec94e.html.
- ↑ 5.0 5.1 Pyburn, Evelyn (June 23, 2016). "Caterpillar to Help Market GTUIT Gas Systems". Big Sky Business Journal. http://www.bigskybusiness.com/index.php/business/montana-business/4382-caterpillar-to-help-market-gtuit-gas-systems.
- ↑ "Company Overview of GTUIT, LLC". Bloomberg. https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=276811675.
- ↑ Stockdill, Patricia (January 22, 2015). "Advancing Technology - Natural Gas Innovations". Bismarck Tribune. http://bismarcktribune.com/bakken/breakout/advancing-technology---natural-gas-innovations/article_bb6b332a-a257-11e4-9d82-d71777137983.html.
- ↑ "Flaring Innovation: An Interview With Brian Cebull, CEO of GTUIT". Oil & Gas 360. October 22, 2015. http://www.oilandgas360.com/flaring-innovation-interview-brian-cebull-ceo-gtuit/.
- ↑ "GTUIT REceives ISO 9001:2008 Certification". Compressor Tech. July 20, 2015. http://www.compressortech2.com/July-2015/GTUIT-Receives-ISO-90012008-Certification/#.WAZtUuArK00.
- ↑ Lowrey, Mark (September 6, 2016). "Refrigeration System Could Help Reduce Flaring, Generate Revenue For Western Canadian Oil and Gas Producers". EnviroLine News. http://www.envirolinenews.ca/news-analysis/news/2016/09/06/refrigeration-system-could-help-reduce-flaring-generate-revenue-for-western-canadian-oil-and-gas-producers/.
- ↑ "GTUIT profile". Inc. http://www.inc.com/profile/gtuit.
- ↑ Seeley, Rachael (December 12, 2014). "Bakken Flaring Plan for Hess Includes Remote NGL Capture". Unconventional Oil & Gas Report. http://www.ogj.com/articles/uogr/print/volume-2/issue-6/bakken-flaring-plan-for-hess-includes-remote-ngl-capture.html.
- ↑ Geiver, Luke (November 19, 2013). "Aware of the Flare". The Bakken Magazine. http://thebakken.com/articles/413/aware-of-the-flare.
- ↑ Morgan, Geoffrey (August 29, 2016). "Toronto-based Berg Chilling Systems Wants to Freeze Oilfield Emissions". Financial Post. http://business.financialpost.com/entrepreneur/toronto-based-berg-chilling-systems-wants-to-freeze-oilfield-emissions?__lsa=c86f-1cc0.
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