New oil-water reclamation company appoints CEO
STW Resources Inc (STWRI), a new company tackling polluted oilwell fracture water for reuse, has appointed Eric D Pedersen to the position of CEO and chairman. Pedersen succeeds Gene Brock, who is returning to his role as president.STWRI, located in Midland, Texas, was created to promote a patented thermal evaporation technology developed by GE Water Process & Technologies. This is used to reclaim approximately 70% of the fresh water from highly contaminated hydraulic fracture flow-back salt water produced during oil and gas production.
Prior to joining the company, Pedersen co-managed The Water Fund LP, a New York-based hedge fund that invested globally in water-related companies. Before that he led the business development group at GE Water & Process Technologies.
Through an agreement with GE, STWRI has been working to establish contracts with oil and gas operators for the deployment of multiple water reclamation systems throughout Texas, Arkansas, and the Appalachian Basin. The companies are working to create the most efficient and economical solution to this complex problem.
STW Resources will purchase the required equipment from GE and operate to reclaim the water. The company says that GE's technology provides the first truly volume-capable and economic solution to the problem of cleaning contaminated oilfield water for reuse.
For more information, contact Eric Pedersen, STW Resources Inc
Tel: +1 800 327 9067