TREVOSE, Pa. & MIDLAND, Texas--(Business Wire)--
GE Water & Process Technologies and STW Resources, Inc. (STW)
announced today they formed a collaborative that will drastically
reduce the amount of freshwater lost to the environment due to
hydraulic fracturing, a commonly used oil and gas process.
Each year, hydraulic fracturing produces billions of gallons of
wastewater while increasing the production rate of oil and gas wells.
Texas alone--the largest oil and gas producing state in the United
States--discards over six billion barrels annually of oilfield
wastewater into the state's 50,000 permitted disposal wells. The
wastewater disposed of in the wells is forever lost, placing even more
stress on this water scarce region. Using an innovative,
cost-effective process and patented GE Thermal Evaporation
technologies the collaborative will help oil and gas customers recover
up to 70% of their hydraulic fracturing wastewater.
"This effort will leverage STW's vast knowledge and contacts in
the oil and gas industry and our broad portfolio of innovative
solutions to deliver economic and environmental benefits," said Jeff
Garwood, president and CEO, GE Water & Process Technologies. "This is
yet another example of how we strategically work with industry leaders
to drive growth and bring solutions to our customers around the world.
We are pleased to have teamed with STW and we look forward to bringing
together the collective strength of GE and STW as we explore solutions
that address these water challenges."
The GE-STW collaborative will initially address the wastewater
challenges of Barnett, Fayetteville and Appalachian Shale natural gas
drilling plays - locations known for tough-to-treat wastewater.
Utilizing GE patented Evaporator and Brine Concentrator technologies,
the effort will help the regions reclaim approximately 70% of their
hydraulic fracturing wastewater. The reclaimed water can be reused in
the next well or safely returned back to the environment. GE and STW
will form project-specific companies, under the banner of "Water
Reclamation Partners," and will offer multi-year cost-per-barrel based
service agreements. Water Reclamation Partners will build, own, and
operate the equipment and processes required to treat the wastewater
and recover reusable water.
"Our vision is to create solutions that address some of the oil
and gas sector's toughest wastewater and recycling challenges," said
Stanley Weiner, CEO, STW Resources. "This effort will enable growth
while decreasing the amount of water taken out of the natural
environment."
Utilizing GE's Brine Concentrator and Evaporator technologies, the
collaborative will also help oil and gas producers further shrink
their environmental footprints by decreasing the amount of equipment
and water hauling trucks needed on site.
For more information please visit www.ge.com/water or
www.stwresources.com.
About GE Water & Process Technologies
A world leader in water and wastewater treatment and process
systems, GE Water & Process Technologies, a unit of General Electric
Company (NYSE:GE), offers the broadest portfolio of global expertise
and local capabilities. We invest in forward looking water and process
technologies, leveraging the best practices of GE's ecomagination, to
help customers balance environmental and economic goals. Our
innovative team develops unique partnerships and delivers reliable,
long-term solutions for communities, governments and industries that
maximize water and energy resources. www.ge.com/water.
About STW Resources
STW Resources, Inc. ("STW") is a newly formed corporation located
in Midland, Texas with an operations office in Houston, Texas. STW was
created to utilize cost-effective patented technology developed by GE
Water Process and Technologies ("GE") to reclaim approximately 70% of
the fresh water from highly contaminated oil and natural gas hydraulic
fracture flow-back water and salt water that is produced in
conjunction with the production of oil and natural gas. STW will also
use its business model of designing, building, owning and operating
municipal water systems and brackish and seawater processing for
agriculture and human use. For more information go to:
www.stwresources.com.
GE Water & Process Technologies
Ellen Mellody, O: +1 942-3307
C: +1 215-989-3025
ellen.mellody@ge.com
Copyright Business Wire 2008
