JNC generates electricity from casinghead and/or stranded natural gas, and its two affiliates include Green Line Power (GLP) and TexRep7.
Through an affiliated certified Retail Electric Provider (REP), JNC provides electricity for use on site by the oil and gas producers or sold to retail and commercial customers by interconnecting with the electrical grid at the generator site.
GLP uploads the produced electricity directly into primary electricity transmission lines, while REP sells or trades the electricity on the open market.
Upon the close of the acquisition, JNC management will join the STW Resources’ executive team, the company said.
STW Resources anticipates that JNC and its affiliates, will become a subsidiary of STW Resources upon consummation of the transaction.
STW Resources CEO Stanley Weiner said the acquisition of JNC provides a complementary model to the company’s current business and will provide its customers with an efficient, integrated suite of services.
