RG Global Signs Operating Agreement for Commercial DIW
RG Global has signed an agreement to operate a 10-acre deep injection well (DIW) that will provide a positive cash flow and establish RG Global as a service partner to major oil and gas producers in Utah.
"RG Global has made tremendous progress in the execution of our plan for a deep injection well in Utah," said Grant King, RG Global CEO and President. "We have recently signed an operating agreement with Pro-Water, LLC to manage and operate the injection well. Using our current technologies, RG Global will convert this well to a greener facility while utilizing the byproducts to increase the projected revenue."
The Utah Injection Well
RG Global intends to develop a facility for the treatment, reuse and disposal of waters produced from oil and gas wells on its well site that is competitively located on a major highway that is easily accessible year round. In this industry, most oil and gas producers pay third parties to dispose of their produced waters in injection wells and evaporation/seepage ponds. RG Global has based its model on strategic utilization, whereby it converts production well water into multiple revenue streams. This includes revenue from water disposal, recycled water for fracking and the separation of oil condensate.
Positive Cash Flow
"This operating agreement is the first step in our reorganization plan to efficiently utilize and implement our available technologies to generate a positive cash flow," said Bob Glaser, RG Global VP Operations. "In addition to the injection well, RG Global is actively pursuing using its patented DynIX technology for water treatment business in Australia to satisfy the increased demand for the processing of produced water from coal seam gas (CSG), also known as coal bed methane (CBM)."