Fred Forster III
Midland, TX (USA)
Role(s):
Founder/Owner/Principal
Saltwater Partners #1 SWD, LLC
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Startup
Location:
Midland
Industry:
Energy
Year Founded:
2012
Number Employees:
1-10 people
Business Stage:
Creation/Idea
Entity Type:
Limited Liability Company
Description:
Company went through a year-long process and recently obtained a permit from the Texas Railroad Commission allowing the disposal of up to 10,000 barrels of saltwater per day at a specific location two miles east of Midland, Texas. The facility will accommodate four tanker trucks simultaneously off loading produced water from oil & gas wells. Net disposal rate is 55 cents/bbl. The estimated skim oil will be .75% or 75 barrels of oil from 10,000 barrels of water. Other SWD's in the area have been in business for over 40 years and operate at capacity. Turnkey development cost is $2.25M and anticipated payout is approximately 1 year.