STW Moves Forward On Ft. Stockton/Capitan Reef Project
MIDLAND, Texas, Nov. 5, 2014 /PRNewswire/ -- STW Resources Holding Corp. (OTC QB: STWS) announced that it has moved equipment and a drilling rig on the development well Ft. Stockton drilling site. The completion of this production well and hydrogeological report establishes flow rates for the first phase of the project as well as water reserves. It is expected that the well and all associated proven reserve reports will be completed in approximately 60 days. At full production, the first phase of STW's Ft Stockton project is expected to have 5 to 6 production wells. At capacity, STW's first phase of the Ft Stockton project annual revenues are expected to exceed $40-50 million and STW anticipates booking potential reserves between $200 million and $250 million pursuant to information from a previous hydrogeological report performed in the last year. The initial hydrogeological studies show the Capitan Reef will produce at this rate for plus or minus 100 years with no adverse effects on the reservoir.
"This marks the start of a new phase in the history of STW. We have spent two years getting all of the studies and permits needed to begin drilling the Capitan Reef in Ft. Stockton. We are thrilled to finally begin the drilling and to begin to generate revenues from the sale of water in the near future." said Alan Murphy, President of STW Water.
About STW Resources Holding Corp.
STW Resources Holdings Corp. consults and provides customized water analysis, reclamation and remediation services to a variety of complex oil and gas produced and flowback water, brackish water, industrial, and municipal applications throughout several geographic locations. As an independent solutions provider, STW utilizes proven technologies, from various well-known manufacturers, including Salttech, a Zero Liquid Discharge (ZLD) technology that is economically feasible to use. These technologies are available as fixed or mobile units with varying capabilities. STW's process ensures that the most effective and efficient technologies are implemented. Current potential project locations include the Eagle Ford Shale (TX), the west Texas Delaware and Permian Basins (TX), and eastern New Mexico. It also offers evaporation covers for the elimination of evaporation on frack ponds used throughout the oilfield. Evaporation causes the operators millions of dollars in losses annually. Covering the ponds is a conservational and economic method of preserving one of our natural resources and can be floated on to existing ponds or installed during construction. It also eliminates algae growth, doubles as a bird net, and reduces erosion of pond infrastructure. High quality liners with fusion-welded seams, quality control testing including air tests of seams and destruction testing are also standard. STW Energy, a subsidiary of STW Resources Holding Corp., offers a turnkey rig washing service. STW services include roustabout services for several major oil and gas producers too. STW's Pipeline Maintenance & Construction division aids oil & gas companies in connecting new wells so the oil & gas can be sold to market and helps maintain the integrity of their existing pipeline infrastructure.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including risks discussed in the company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements. Accounting rules may dictate reserves being booked as a footnote.
SOURCE STW Resources Holding Corp.
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