Xtreme O&G has begun disposal operations on its first Saltwater Disposal Well in Oklahoma.
"We are pleased to put this well into operation this past weekend," stated Willard G. McAndrew III, CEO of Xtreme. "Disposing of our first truckload of saltwater is a significant milestone towards achieving earnings growth. The increasing drive for the U.S. to become 'energy independent,' along with technological advances enabling the revitalization of wells and access to oil and gas previously unattainable, have driven the market for independent saltwater disposal. The growth of U.S. oil and gas producers has created a vast need for oilfield services, and Xtreme Oil & Gas plans to expand this business while increasing our own energy production. We expect to increase saltwater disposal throughout 2012, beginning with the disposal of 3,000 barrels per day this quarter and increasing to 15,000 barrels per day with the potential for $7 Million in annual revenue."
Saltwater disposal is an integral service for oil and gas producers. The process allows operators to cleanly and safely dispose of the saltwater generated during production. Saltwater disposal wells provide environmentally safe and proper disposal of produced saltwater at a reduced cost for oil and gas exploration companies.
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