The new joint venture company called Water Reclamation Partners (WRP), which is 51% owned by STW Resources, has already been assigned with Aqua Verde’s existing Master Services Contract with an oil & gas producer.
The contract requires WRP to deploy proven technology to treat a minimum of 4,000 barrels of produced water per day, increasing to 30,000 barrels per day at a rate of $2.25 to $5.75 per barrel depending on the treatment necessary.
WRP, which aims to achieve the business potential of treating hundreds of thousands of barrels of water daily, has also begun testing water samples to provide a suite of customized water treatment services, based on the local water chemistry for multiple producers in the DJ Basin.
STW Resources CEO Stanley Weiner said that water is a major environmental and political challenge for the oil and gas industry and STW is positioned to demonstrate that water reclamation is both politically viable and economical for producers.
