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Xtreme Oil & Gas, Inc. (OTCQB:XTOG,OTCBB:XTOG) finished the final testing on Saltwater Disposal Well needed by the Oklahoma Corporate Commission.
Xtreme Oil & Gas, Inc. (OTCQB:XTOG,OTCBB:XTOG) finished the final testing on Saltwater Disposal Well needed by the Oklahoma Corporate Commission.
As quoted in the press release:
The well exhibits unique characteristics for a prolonged period of revenue generation of up to 20 years and stable margins. XTOG’s acidizing work resulted in the well transitioning to a vacuum stage where it will naturally draw in saltwater, creating cost savings for well operations.
Xtreme Oil & Gas’s CEO, Willard G. McAndrew III said:
“We have begun the installation of the tanks, pump and disposal pits and expect revenue to commence on this project in the fourth quarter. With letters of intent to potentially dispose of 15,000 barrels of saltwater, representing $7 Million in annual revenue, we are well positioned to have this project contributing to earnings shortly. Completing these tests is the last critical step we needed to finish before beginning our saltwater disposal operations. Maintaining full compliance with the regulatory bodies is always our goal.”
Click here to read the Xtreme Oil & Gas, Inc. (OTCQB:XTOG) press release
