Xtreme Oil & Gas has drilled the initial Saltwater Disposal Well, in Oklahoma into the Arbuckle structure.
The company has submitted all the necessary data to the Oklahoma Corporate Commission in order to receive the final permit approval, as the drilling is completed. It will mobilize faster to finish the surface equipment and commence saltwater disposal, on receiving the endorsement.
The commercial disposal of saltwater corresponds to the oil production operations of Xtreme. The company is expecting that this business will bring around 50% revenues through the subsequent five years since it extends the disposal process across the properties.
The business model of the public company has the unique grouping of the oil production processes and profitable saltwater disposal. Naturally, the disposal wells will have lower risk as there is no necessity of identifying oil or gas. The introduction of saltwater disposal is the essential element for the company’s business plan and balances exploitation of recoverable oil around 15,000,000 barrels over 10,000 acres in Kansas, Texas and Oklahoma.
Source: http://xtremeoilandgas.com/