Under the terms of the JV, Aqua Verde will assign its existing master services contract with a major oil & gas producer located in the Denver-Julesburg (DJ) Basin, to WRP.
To serve the master services contract, WRP is planning to deploy proven technology to reclaim a minimum of 4,000 barrels of produced water per day, increasing to 30,000 barrels per day, at a rate of $2.25 to $5.75 per barrel depending on the treatment necessary.
Additionally, WRP has begun testing water samples for multiple producers in the DJ Basin to provide a suite of customized water reclamation services, based on the local water chemistry.
WRP’s revenues will be distributed to STW on a monthly basis in accordance with its ownership interest.
STW Resources is a water reclamation services company, and Aqua Verde offers water treatment and management solutions to producers of oil and natural gas along with the mining industry in the Rocky Mountain Region.
