MIDLAND, Texas, June 30, 2014 /PRNewswire/ -- STW Resources Holding Corp. (OTC QB: STWS) continues aggressive growth in all divisions and adding new services and product lines while increasing revenues and broadening our customer base.
--STW Water has added water treatment chemical products sales that are used in the maintenance of municipal systems and was recently awarded a contract from the city of Ft. Stockton. STW is now offering maintenance services for municipal water treatment facilities. "These services and products will create reoccurring revenue streams and also keep our team in touch regularly with our customers," stated Alan Murphy, President of STW Water. Additionally, the company is offering water management consulting, maintenance, and water processing services to oil and gas producers for produced and frac flowback water but also drinking water for man camps and operations facilities by processing unusable brackish water. The company is consulting a major oil company in Midland regarding water management on their field operations facilities.
Working with technology provider Salttech, STW Water has begun the process of designing and engineering a 5,000-barrel per day system for produced and frac flowback water. If a company wants to process more than 5,000 barrels/day, an additional system(s) will be commissioned. Alan Murphy continued, "The Company will build to suit but this particular design and capacity is being offered as the staple in our water treatment services to the oil and gas industry. The beauty of the Salttech technology is that it is completely environmentally sound and it is economically feasible to replace the use of our fresh water resources."
--STW Pipeline expanded new pipeline construction. The company is working new pipelines and has progressed from $200,000 to $1 million contracts to larger, $4 million to $6 million projects. The company has added new crews and purchased equipment in the second quarter to meet demands. STW Pipeline expects to close a new credit line shortly, which will provide much needed growth capital.
"Progressing from operating only pipeline maintenance crews to constructing large new pipelines is the driver in STW Pipeline's growth plan," stated Adam Jennings, President of STW Pipeline. "The next phase of growth will be to own and operate multiple pipelines and completing the vertical," continued Jennings.
"We have had great success finding the right people to lead our various divisions. Each of these individuals have brought a wealth of knowledge, experience, and relationships that are drivers in the growth we've been experiencing. Also, the addition of the Salttech technology to our arsenal of water processing technologies gives us the ability to process nearly any type of water in the world on an economical and environmental basis. We have the tested the efficacy of many technologies for water processing, and while they all seem to have something they can do good, none have the complete process or efficiency in one system like the Salttech system does. This technology can process up to 300,000 Total Dissolved Solids (TDS) water on an economical and environmental basis," said STW CEO, Stanley Weiner.
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. 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. STW is also involved in the oilfield dirt construction business providing roads, pits, locations, and water pond construction. It also offers evaporation covers for the elimination of evaporation on frac 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 Holding Corp, offers a turnkey rig washing service and STW Holdings offers the ability and technology to process drilling waste fluids, tank bottoms, and oil based cuttings that will completely eliminate any potential future liabilities (Cradle-to-Grave) to the operators after they dispose of them. 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.
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.
SOURCE STW Resources Holding Corp.