According to the company, the well exhibits unique characteristics for a prolonged period of revenue generation of up to 20 years and stable margins.
The company’s acidizing work resulted in the well transitioning to a vacuum stage where it will naturally draw in saltwater.
Xtreme CEO Willard McAndrew III said the company has begun the installation of the tanks, pump and disposal pits and expects revenue to commence on this project in the fourth quarter.
Xtreme is engaged in the exploration, development, acquisition and production of crude oil and natural gas with operations from its properties in the US states of Texas, Oklahoma and Kansas.
