SAN ANTONIO, Texas, Feb. 8, 2012 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (Nasdaq:RUSHA) (Nasdaq:RUSHB), announced today that representatives from its Rush Truck Centers in Austin and Waco, Texas participated in a review of the first of 60 Peterbilt Model 388 LNG (liquefied natural gas) trucks that will be delivered to Green Energy Oilfield Services, LLC., a portfolio company of Lone Star Investment Advisors.
Green Energy Oilfield Services, located in Fairfield, Texas, will use the trucks to service XTO Energy, a subsidiary of ExxonMobil and major producer in the Freestone play oilfield in Freestone County, Texas. Green Energy Oilfield Services will operate 50 trucks as vacuum trucks, used to remove and dispose of formation water, and 10 as winch trucks, used to transport frac tanks. The trucks are expected to enter operation in April. Clean Energy will provide the LNG fuel for the vehicles.
"We are very excited to be reviewing the first of our 60 truck Peterbilt LNG fleet," said Roger Nevill, President and COO of Green Energy Oilfield Services, LLC. "We believe that Peterbilt is a leader in alternate fuel technology. These vehicles offer us the quality and reliability we need for rugged oilfield operation, while enabling us to honor our commitment to operate alternate fuel powered trucks in the field."
"Because the trucks are LNG-powered, we will not bill a diesel surcharge, allowing us to pass on an estimated $5 million in savings annually to XTO Energy," Nevill continued. Even further, we can return support for our customer's business by powering our trucks with LNG fuel."
The trucks were sold to Green Energy by Rush Truck Center — Austin and will be supported in the field by Rush Truck Center — Waco through aftermarket parts and mobile service operations with LNG-certified technicians.
"I have been thrilled with the responsiveness of the Rush Truck Centers operations in both Austin and Waco. Rush is a leader in service and sales of alternate fuel vehicles. Based on my experience to-date, I know we will get the support we need in the field to keep our trucks running, helping ensure our customer is operating efficiently as well," added Nevill.
"We are committed to providing solutions both in truck sales and support after the sale for our natural gas customers," said W. M. "Rusty" Rush, President and Chief Executive Officer of Rush Enterprises, Inc. We have made significant investments to help ensure our truck sales professionals are skilled in alternate fuel technology. We offer a range of aftermarket parts and our LNG-certified technicians and fleet of mobile service units help ensure our customers are well supported. We expect to have 100 natural gas-certified technicians around the country by late 2012 and have plans to designate and equip about 10 locations as natural gas support dealerships."
The Peterbilt Model 388 tractors are equipped with a Westport HD 15-liter natural gas engine, Eaton 13-speed transmission, 40,000 lbs. Dana Spicer rear axles and a Peterbilt Airtrac suspension.
Rush Truck Financing helped secure the financing for the 60 truck deal. The LNG truck deal is one of the largest of its kind in Texas for Rush Truck Centers, although Rush Truck Centers has been involved in sales and service of alternate fuel vehicles for more than a decade in other parts of the country. Rush Truck Centers has provided over 200 Peterbilt LNG refuse trucks to the City of Los Angeles, California and Peterbilt LNG Day Cabs to the Ports of Long Beach and Los Angeles.
The pilot review was conducted at Peterbilt Motors Company'sDenton, Texas manufacturing facility and included executives from Green Energy Oilfield Services, Lone Star Investment Advisors, Peterbilt Motors Company, Rush Truck Centers, Westport Innovations., Clean Energy and XTO Energy.
About Green Energy Oilfield Services, LLC.
Green Energy Oilfield Services was founded in 2011 and is located in Fairfield, Texas. Staffed by oilfield veterans with decades of experience, Green Energy Oilfield Services operates a 14,000 square foot state-of-the-art facility, housing its main truck/frac tank yard. With an incoming fleet of 60 Peterbilt Model 388 LNG tractors, our alternative fuel fleet will be one of the first and largest of its kind to provide service to the oilfield on this scale. Green Energy Oilfield Services is committed to operate using alternative fuels, generated by America's natural resources, helping to lessen dependency on non-domestic energy sources. Green Energy Oilfield Services' fleet includes vacuum and winch trucks along with 400 Dragon frac tanks.
About Lone Star Investment Advisors
Lone Star Investment Advisors is a Dallas-based private equity firm that specializes in leveraged acquisitions and recapitalizations of strategically viable, middle-market businesses with strong potential for growth. The firm invests in a wide variety of industry sectors including manufacturing/industrial, distribution, business services and energy/utilities. Lone Star specializes in investments that will create employment opportunities in the communities in which they are located, and maintains a strong reputation for driving economic growth in low income areas. The firm is currently investing out of Lone Star CRA Fund, LP and Lone Star Opportunities Fund V, LP.
About Rush Enterprises, Inc.
Rush Enterprises, Inc. is the premier solutions provider to the North American commercial vehicle industry. The Company owns and operates the largest network of commercial vehicle dealerships in the country, representing truck and bus manufacturers including Peterbilt, International, Hino, Isuzu, Ford, Mitsubishi, UD, IC Bus, Blue Bird and Elkhart. The Company's vehicle centers are strategically located in high traffic areas on or near major highways in 14 states throughout the Southern and Western United States. These one-stop service and sales centers offer an integrated approach to meeting customer needs -- from aftermarket parts, service and body shop operations to sales of new and used vehicles plus a wide
array of financial services, including financing, insurance, leasing and rental. Rush Enterprises' operations also provide vehicle up-fitting, chrome accessories and tires. For more information, please visit www.rushenterprises.com.
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CONTACT: Karen S. Konecny, 830-626-5102
konecnyk@rushenterprises.com
Source:
Rush Enterprises, Inc.
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