Xtreme Oil & Gas Begins Saltwater Disposal Operations

January 10, 2012 08:30 ET

 

Xtreme Oil & Gas Begins Saltwater Disposal Operations

 

PLANO, TX–(Marketwire - Jan 10, 2012) - Xtreme Oil & Gas, Inc. (OTCQB: XTOG) (OTCBB: XTOG), an independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas, announced today that it has begun disposal operations on its first Saltwater Disposal Well in Oklahoma.

 

“We are pleased to put this well into operation this past weekend,” stated Willard G. McAndrew III, CEO of Xtreme. “Disposing of our first truckload of saltwater is a significant milestone towards achieving earnings growth. The increasing drive for the U.S. to become ‘energy independent,’ along with technological advances enabling the revitalization of wells and access to oil and gas previously unattainable, have driven the market for independent saltwater disposal. The growth of U.S. oil and gas producers has created a vast need for oilfield services, and Xtreme Oil & Gas plans to expand this business while increasing our own energy production. We expect to increase saltwater disposal throughout 2012, beginning with the disposal of 3,000 barrels per day this quarter and increasing to 15,000 barrels per day with the potential for $7 Million in annual revenue.”

 

Saltwater disposal is an integral service for oil and gas producers. The process allows operators to cleanly and safely dispose of the saltwater generated during production. Saltwater disposal wells provide environmentally safe and proper disposal of produced saltwater at a reduced cost for oil and gas exploration companies.

 

About Xtreme Oil & Gas
Xtreme Oil & Gas, Inc. is a rapidly growing Dallas-based independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas with operations from properties it owns in Texas, Oklahoma, and Kansas. The company’s oilfield services disposes of saltwater for independent energy producers.

 

Statements included in this release related to Xtreme Oil & Gas, Inc. constitute or may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the inherent uncertainty of finding and developing oil and gas properties, the technological and financial difficulties inherent in these activities, the price of hydrocarbons and the Company’s ability to estimate accurately net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company’s financial results can be found in the Company’s reports filed with the Securities and Exchange Commission.

 

Contact Information

 

Contact

Xtreme Oil & Gas, Inc.
(214) 432-8002
www.xtoginc.com

 

Investor Relations:
Alliance Advisors
Bryan Kobel
Vice President
212-398-3486