Companies Profiting from the Gulf Spill-Wescorp Energy Inc (OTCBB: WSCE), Nalco Holdings (NYSE:NLC), Clean Harbors (NYSE:CLH), Ashland (NYSE:ASH)

Companies Profiting from the Gulf Spill; How Remediation Company Wescorp Energy Inc (OTCBB: WSCE), Nalco Holdings (NYSE:NLC), Clean Harbors (NYSE:CLH), Ashland (NYSE:ASH) and others Play a Role


The oil leak was sealed in late July, but the environmental damage was immense and the clean up is predicted to take years.

September 7, 2010 (Investorideas.com water stocks newswire, www.water-stocks.com ) Investorideas.com and its water investor portal, www.water-stocks.com publish sector commentary from Lisa Springer, CFA, an equity research analyst and financial writer, on public and private companies participating in the Gulf clean up. The oil leak was sealed in late July, but the environmental damage was immense and the clean up is predicted to take years.

Lisa Springer previously published commentary on Wescorp Energy Inc. (OTCBB: WSCE), a clean water solutions and its technology application for the Gulf. (Currently trading as (OTCBB:WSCEE)

Wescorp (OTCBB: WSCE) Preps H20maxx Remediation Technology for Deployment in Gulf Spill Clean Up http://www.investorideas.com/news/renewable-energy/8121.asp

Lisa Springer, CFA

Equity research analyst and financial writer



Companies Profiting from the Gulf Spill

Companies in this article: Wescorp Energy Inc (OTCBB: WSCE), Marine Spill Response Corp. (MSRC), SEACOR Holdings (NYSE:CKH), Nalco Holdings (NYSE:NLC), Ashland (NYSE:ASH), Eastman Chemical (NYSE:EMN) and Arch Chemicals (NYSE:ARJ), Clean Harbors (NYSE:CLH), Waste Management (NYSE:WM), Fluor (NYSE:FLR). Procter & Gamble (NYSE:PG)



The BP Deepwater Horizon oil spill was a disaster for Gulf coast residents, but creates major profit opportunities for well-known remediation companies as well as a few niche players. The oil leak was sealed in late July, but the environmental damage was immense and the clean up is predicted to take years. BP hired hundreds of skimming vessels and thousands of personnel for the clean up and recovered some 30 million barrels of oil, but best estimates are that nearly 150 million gallons of oil remain in the water. Little oil is visible on the surface, but huge plumes of oil, some many miles long, have been detected underwater.

BP has set aside $20 billion for the clean up and hundreds of vendors are queuing up for a piece of the pie. More than 650 vessels and 45,000 people have been involved in the clean up so far.

Much of the work will likely be done by a little-known company created years ago by the oil companies after the Exxon Valdez disaster. In response to Exxon Valdez, the US Congress passed a law that requires oil companies to have spill-response plans and emergency workers ready to deploy. The oil giants satisfied this regulation by formed a jointly-owned entity, Marine Spill Response Corp. (MSRC). Today, MSRC is the largest company in the oil-cleanup business. Its closest competitor, National Response Corp. (NRC), a wholly-owned subsidiary of SEACOR Holdings (NYSE:CKH), has also been retained by BP to assist in the clean up.

Chemical manufacturer Nalco Holdings (NYSE:NLC) is a notable beneficiary of the clean up. BP has purchased over one million gallons of Nalco’s chemical dispersant Corexit to break up oil slicks. Nalco sales of Corexit are approximately $2 million in a typical year, but already exceed $40 million this year.

Ashland (NYSE:ASH), Eastman Chemical (NYSE:EMN) and Arch Chemicals (NYSE:ARJ) also manufacture specialty chemicals and solvents for cleaning oil slicks and may be selling their products to BP as well. Ashland also provides hazardous waste removal services.

Companies supplying ships, crews and equipment for the clean up are prospering. Clean Harbors (NYSE:CLH) provides ships and crews to the Gulf coast and has been hired by government agencies to provide logistics and support services. The company expects to generate $300 million in sales from the Gulf spill next year. Waste Management (NYSE:WM) has been hired to cart away and landfill contaminated sand and oily waste. Construction giant Fluor (NYSE:FLR) is supplying workers to clean up tar on Alabama and Florida beaches. Fluor has hired 3,600 workers in the Gulf so far with another 1,700 hires planned.

Manufacturers of boom used to collect floating oil are filling record orders. Over 1.25 million feet of containment boom and 440,000 feet of absorbent boom have been deployed and double that amount of containment boom is on order from Gulf coast suppliers. Applied Fabric Technologies received so many orders for boom after the spill that it asked past customers to return unused product. Slickbar Products, a division of Finland-based Lamor, is operating its Connecticut boom plant flat out and making more boom in one month than it typically makes in a year.

Procter & Gamble (NYSE:PG) delivered 2,000 bottles of Dawn dishwashing detergent to the Gulf to clean up wildlife covered with oil. The impact on its bottom line is minimal, but the brand-building benefit is huge.

.Actor Kevin Costner’s company Ocean Therapy Solutions demonstrated its centrifuge technology for separating water from oil to BP executives ten years ago, but just now received BP’s approval to field test the technology. According to management, BP has purchased 32 of its centrifuges.

Wescorp Energy (OTCBB: WSCE) owns a remediation technology, H20maxx, which has already been field tested in Western Canada’s oil fields. Wescorp is partnering with Cancen Oil Canada Corporation to commercially deploy this technology. H20maxx uses a patented nano-bubble aeration process to separate oil from the water and clean oil-contaminated water to levels exceeding EPA standards. The process is environmentally benign and Wescorp equipment is able to process large volumes of contaminated water rapidly and immediately discharge the treated water back into the sea.

Wescorp talked with clean up contractors and government agencies about the challenges they were encountering in the Gulf and, in response to their feedback, is constructing a large capacity H20maxx unit capable of processing 10,000 barrels of contaminated seawater per day. The company will accept delivery of the new unit this September and plans to deploy it in the Gulf for on-site demonstration and testing.

Wescorp has also designed a high volume, skip mounted unit capable of processing 28 million gallons of contaminated seawater per day. The unit operates both on land and sea and is being marketed to marine and emergency response customers.

Additional article on WSCE Gulf Technology: Wescorp (OTCBB: WSCE) Preps H20maxx Remediation Technology for Deployment in Gulf Spill Clean Up http://www.investorideas.com/news/renewable-energy/8121.asp

Lisa Springer, CFABio and disclaimer: http://www.investorideas.com/About/Lisa-Springer-CFA/

The author, Lisa Springer, was compensated for writing this article and doesn't own shares of any of the companies mentioned in this article.

About Wescorp (OTCBB: WSCE)- currently trading as (OTCBB:WSCEE)

Wescorp Energy Inc. (www.wescorpenergy.com) is clean water Solutions Company focused on implementing its superior yet low cost solutions into the oil and gas production industry.

Investors can view the full company profile at http://www.investorideas.com/CO/WSCE/

or visit the company website at http://www.wescorpenergy.com/

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