New COO and business lines for STW Resources
US water services provider STW Resource Holding Corp announced a new chief operating officer (COO) on 25 October 2012 and expanded business lines, including large-scale desalination and oil/gas water reclamation.The new COO, Lee Maddox, has served as an account executive and risk manager for a number of oil and gas operators and service contractors for the past 15 years, earning the designation of Certified Risk Manager.
Lee was promoted to vice president and received numerous awards for his leadership in sales and as a team leader with individual annual sales of US$ 10 million. He has been a partner and manager in several oil and gas service companies including Viper Products & Services and Black Wolf Enterprises.
STW has researched and applied various technologies through agreements with several manufacturers, resulting in the engagement of the engineering services of Bob J Johnson & Associates (BJJA). BJJA has designed and deployed customized water-processing systems throughout the world for over 35 years.
"Our research, and our teaming with BJJA, have given STW the intellectual property to deploy some of the most efficient and economical systems being used today," stated Maddox. "Based on source water specifics and certified results from STW's water processing pilot operations for various oil & gas producers in West Texas, STW is able to customize water processing systems to meet specifications desired by producers."
STW's future growth is based on five models:
Oil & Gas Industry: Reclamation of produced and/or flowback water to required specifications for onsite reuse. Contaminant removal systems for hydrogen sulfides, sulfates and other contaminants in source waters. Owner-operator model with per-barrel charge revenue stream.
Brackish Water Facility: Reclaim brackish water to specifications necessary for reuse in the well drilling and completion processes. Owner-operator model with per-barrel charge, comparable to local fresh water prices, as a revenue stream.
Integrated Systems - Sales and Consulting: Consultation on the design and construction of water-reclamation systems and ancillary equipment. One-time sales fee model, and consultation as a recurring revenue stream based on contract.
Municipalities: Consultation and build-out of large-scale desalination projects, including well development of on-site brackish water sources and evaporation ponds. Recurring fee-based revenue stream.
Salt Water Disposal and Fresh Water Facilities: Implementation of disposal site processes and technologies to reclaim produced/flow back water and/or brackish water for reuse. Partnering model for disposal and reclamation. Monetization by owner-operator model with per-barrel rates for both disposal and reclamation.