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STW Resources Holding Corp. has announced that its 75% owned subsidiary STW Energy has expanded operations in South Texas and has increased Permian Basin services by adding additional crews and equipment.
STW Energy has added salespeople, and 20 field operations employees to meet the high demand for its services in South Texas' Eagle Ford. STW Energy has also deployed two additional hydro excavation units, which are utilized in the cleaning of drilling rigs and tanks.
STW Energy said it is pleased with current revenue levels and is confident rolling out an aggressive growth model will further success. STW Energy has three crews operating and based on demand expects to add seven additional crews by the fourth quarter of 2014. STW said that by industry standards each crew can generate approximately $1 million in annual revenues.
STW COO Lee Maddox said: "Our successful launch of STW Energy reinforces our business plan and the demand for our services.
STW's other subsidiaries are experiencing the same results."
STW Energy provides removal of oil and diesel residue on drilling rigs to, among other things, meet environmental regulations for transit over private roads, public roads, and highways.
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