Wastewater treatment specialist Heckmann Corporation (NYSE:HEK) surged after reporting earnings that beat analyst expectations. The oil and gas services provider said fourth-quarter revenues doubled and that its acquisition of Power Fuels, a fluid services specialist focused solely on Bakken oil and gas companies, enabled it to turn a profit.
Heckmann Corporation (NYSE:HEK) became the largest nationwide provider of environmental services to the industry after the Power Fuels purchase. It provides oil and gas drillers with water and fluids used in hydraulic fracking, the controversial process of injecting fluids under high pressure into wells to fracture the rock formations and gain access to the energy deposits. The fluids then need to be extracted and treated, which Heckmann also handles. Fracking has been accused of everything from causing groundwater pollution to earthquakes.
The oil and gas services specialist will be asking shareholders to approve a company name change at its annual shareholder meeting from Heckmann Corporation (NYSE:HEK) to bland Nuverra Environmental Solutions, a horrible-sounding moniker that I hope gets rejected.
The article Whoa! These 3 Stocks Are Outpacing the Dow’s Run originally appeared on Fool.com and is written by Rich Duprey.
Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of and has options on Heckmann.
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