Pecos Middle Water District Unanimously Approves a Drilling Production and Transportation Permits
MIDLAND, TX--(Marketwired - Dec 16, 2015) - STW Resources Holding Corp. (
Previously, STW Water applied for a consolidated drilling and production permit from the San Andrés formation to be utilized within the county and to be exported out of Pecos County to surrounding areas in need of water. The water district approved the permit in a unanimous decision, with STW meeting the following conditions:
The company also has the ability to submit a request to the water district for a larger permit once it is determined by the hydrogeologist that the formation can withstand an increase in yield without any negative effects. Additionally, with several prospective buyers already in place, STW expects to begin water sales in the first quarter of 2016, selling water immediately at a profitable margin. The Company anticipates water sales in the first quarter of 2016, as it has already received a letter of intent from a local customer to purchase water.
"This is a milestone achievement for STW, one that we have been working towards for quite some time and are thrilled has come to fruition," said Alan Murphy, CEO of STW Resources Holding Corp. "We consider this to be a pivotal moment in establishing STW's West Texas Water Project as one that will provide processed and/or raw alternative water from multiple sources direct to the end-user. With the production and transportation permits approved, the Company can now market the water more effectively, and begin to execute sales agreements with local buyers."
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STW Resources Holdings Corp, (
The Company consults and provides customized water analysis, reclamation and remediation services to a variety of complex oil and gas produced and flowback water, brackish water, ocean water desalination, industrial, and municipal applications throughout several geographic locations to fill a tremendous need for fresh water in the areas they service. As an independent solutions provider, STW utilizes proven technologies, from various well-known manufacturers. 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), eastern New Mexico, and ocean desalination projects on the Gulf Coast of Texas, California, and Hawaii.
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