STW completes construction of two pipeline projects

STW Resources Holding Corp. (STW) announced that its wholly owned subsidiary STW Pipeline Maintenance & Construction (Pipeline) completed construction of two new pipeline projects for major producers in the Permian Basin, one of which was a multi-mile pipeline. Pipeline said it has been awarded a third contract for a multi-mile pipeline, which presently is under construction and is in various stages in the bidding process for additional projects.

Over the last three months, STW Pipeline has hired over 60 people making up 12 full-time crews and equipment working under contracts with producers and midstream companies to maintain and repair existing pipelines, building new lines, and setting tank batteries and compressor stations.

Pipeline's President Adam Jennings noted that the company earned a bonus of 10% over original bid for early completion of the pipeline. "We have been fortunate in attracting some of the best crews in the business as evidenced by the efficiency in which we were able to complete this project."

STW's Chief Executive Officer Stanley Weiner said, "Each time a pipeline project nears completion, the companies keep adding two to three new jobs for us to start on...under its current growth rate, it is projected that this subsidiary will add sixteen to twenty additional crews in 2014."

"STW has a consistent solution to customers' needs of pipeline construction, constructing roads, drilling pad sites, and frac water ponds….some as large as 15 acres in size," said Weiner, adding that "the synergy of performing the customers' construction projects and also installing quality controlled liners in the ponds and installing evaporation covers for them makes STW a one-stop-shop so they don't have to spend their time finding other oilfield service companies to perform all of these jobs that have to be done in order for them to do what they do best…drill and complete wells. Many times, the producers have said they appreciate being able to outsource all of these jobs to just one service company."

"We continue to focus on steady growth and providing a quality product through strategic hiring and the development of industry relationships," said STW Chief Operations Officer Lee Maddox.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/20022014/stw_completes_construction_of_two_pipeline_projects/