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STW to Build a Water Recycling Plant for Texas Oilfield

Jan. 23 (Bloomberg) -- STW Resources Holding Corp., an oilfield reclamation company, agreed to build and operate a water recycling plant near Midland, Texas, that will provide up to 8,000 barrels a day of water for oil producers in the area.

Tiburon Research Holdings, which owns the Powell saltwater disposal site in Texas, will supply reclaimed water and help provide $3 million in financing for the plant, Midland-based STW said in a statement yesterday.

The plant will begin operating in the second quarter and generate as much as $6 million in annual revenue. Tiburon and STW plan to build additional water-recycling plants for oil producers in West Texas and in the Eagle Ford shale formation.

STW surged 48 percent to 6 cents a share in over-the-counter markets yesterday.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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