4 DECADES OF EXPERIENCE IN THE ENERGY INDUSTRY
Hew-Tex Oil & Gas Corporation Founder and Managing Member, Peter Hewett has been in the upstream side of the energy industry for more than four decades of crude oil producing operations involving exploration and production of hundreds of oil and gas wells both onshore and offshore USA (See Management Section). Mr. Hewett has deversified his focus to meet the growing need for saltwater disposal facilities specifically in the Permian Basin in West Texas now considered the biggest oil boom in more than a century. Peter’s extensive knowledge and experience in drilling and producing crude oil also involved the disposing of the associated formation saltwater that is produced with crude oil. The average Permian Basin well initially produces approximately 650 barrels of oil per day along with 2000 barrels of formation saltwater per day. It was this situation that created a diversification in Mr. Hewett’s operations of drilling lower risk oil and gas wells to also meeting the incredible demand by operators and producers in the Permian Basin to dispose of such volumes of saltwater their wells produce daily.
It was a natural diversification by Mr. Hewett into the saltwater disposal facility business having dealt with saltwater disposal contractors over the past several decades who would pick up and dispose of relatively small volumes of formation saltwater from his oil leases. Large or small volumes are still required under the EPA (Environmental Protection Agency) by statutory law of the Texas Water Code enforced by the Texas Railroad Commission to dispose of this water in approved and permitted saltwater disposal wells.
Thus, Mr. Hewett had the foresight and vision to see the additional business opportunities that has opened up for his investor base. With so much oil potential within the Permian Basin, it is now one of the top oil plays in the USA. Oil producers large and small are flocking to unlock its energy resources. The most exciting aspect is that the risk factors are minimum and the economic potential is nearly unlimited. HTOG management believes this additional business opportunity combined with our drilling and exploration efforts will generate the highest potential investment returns to our partners.
Hew-Tex Oil & Gas, Corp has been actively involved in the Permian Basin where producers are drilling the most wells. The Permian Basin stretches 250 miles wide and 300 miles long. It is divided between the Delaware Basin on the west, the Central Basin Platform in the middle, and the Midland Basin to the east. Currently Hew-Tex has two Saltwater Disposal Facilities under construction, one ready to start with another one planned after that. HTOG management is also in discussions with several SWD companies that are seeking help to fund new and state-of-the-art disposal systems and facilities. Hew-Tex Oil & Gas management expects to have its fourth formal Executive Summary ready in the next few weeks to be sent to interested entities and qualified individuals.
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