STW Launches New Division to Engage in Oil & Gas Pipeline Construction Near Texas
STW Resources Holding Corp. has created a division to engage in oil & gas pipeline construction, fitting, maintenance, and repair, initially in the West Texas Permian and Delaware Basins and Eastern New Mexico. Adam Jennings, a veteran of the pipeline construction industry, has been named the division's president.
STW said it is hiring 14 employees who all have a minimum 15 years of experience doing this work for the new division, which includes two maintenance crews. Each crew generally produces approximately $1 million in revenues per year.
To keep up with demand, the company anticipates adding three-to-five additional crews over the next six weeks. STW Resources has arranged financing for initial equipment and operating capital.
"STW has a consistent solution to customers' needs and expectations, having previously worked in both construction and midstream applications," said Jennings. “We are well positioned to capture market share due to our wide ranging experience and industry relationships. For the past few years, while we were constantly repairing old lines with leaks, on a weekly schedule the helicopter would fly the lines and we would have additional new leaks to add to the list. My repair crews were busy six days per week on a yearly basis."
