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Xtreme Oil & Gas, Inc. (OTC:XTOG) received a second Letter of Intent from Southern Wellhead Services to dispose of 5,000 barrels per day of saltwater in Xtreme’s Oklahoma commercial disposal well.
Xtreme Oil & Gas, Inc. (OTC:XTOG) received a second Letter of Intent from Southern Wellhead Services to dispose of 5,000 barrels per day of saltwater in Xtreme’s Oklahoma commercial disposal well.
The press release is quoted as saying:
With the additional disposal request, Xtreme now expects this well to generate over $7 Million in top-line operating revenue to all investors in the project. This well has already been drilled and completed to 6,500 feet and the Company is taking the final steps to put this project into full operation. The Company expects disposal operations to commence and revenue to begin in the fourth quarter of this year.
Willard G. McAndrew III, CEO of Xtreme, says,
“We are delighted that Southern Wellhead wants to partner with Xtreme. Their 5,000 barrels per day along with AMEREX’s 10,000 barrels per day brings this saltwater disposal well to a daily capacity of 15,000 barrels per day. Southern expects our well location to reduce their costs and allow them to generate additional revenue from increased daily pickups. Partnering with the water haulers allows Xtreme to remain focused on the disposal operations.”
Click here to access the entire press release
