STW RESOURCES HOLDING CORP STW Resources Holding Corp. announced that it has moved equipment and a drilling rig on the development well Ft. Stockton drilling site.
The completion of this production well and hydrogeological report establishes flow rates for the first phase of the project as well as water reserves. It is expected that the well and all associated proven reserve reports will be completed in approximately 60 days. At full production, the first phase of STW's Ft Stockton project is expected to have 5 to 6 production wells.
At capacity, STW's first phase of the Ft Stockton project annual revenues are expected to exceed $40-50 million and STW anticipates booking potential reserves between $200 million and $250 million pursuant to information from a previous hydrogeological report performed in the last year. The initial hydrogeological studies show the Capitan Reef will produce at this rate for plus or minus 100 years with no adverse effects on the reservoir.
