HOLYOKE, Mass., June 9, 2022 /PRNewswire/ -- NextMart, Inc. (the "Company" or "NXMR" - Pink Sheets Alternative Reporting Pink: NXMR) – NXMR would like to announce that its wholly-owned subsidiary, Emco Oilfield Services, LLC ("Emco"), has launched an acquisition program of New Mexico water rights to expand its water capacity for own water stations in the Permian Basin.
The Permian Basin is the largest oilfield in the world. EMCO is currently servicing over sixty (60) clients including major oil companies such as Exxon Mobile's subsidiary, XTO, Chevron, Conoco Phillips, Occidental (OXY), and major independent public oil companies such as EOG, Devon, Cimarex, Noble Energy and many more. The acquisition of more New Mexico water rights is in direct response to the current fast-growing needs of its current clients, and new clients that are coming on board, due to the increased oil and gas activity in the Permian Basin.
William Bouyea (CEO of the Company), states…"The historically fast increase in the price of oil and gas has spurred oil and gas drilling and production in the Permian Basin. With oil is at its highest price per barrel in well over a decade domestically, increased production is a natural occurrence. EMCO is just trying to be proactive and work in the best interests of our client base who will use more water as they attempt to grow their production levels by drilling more wells in these unprecedented times in the energy market. It goes without saying that the amount of water used by our clients will increase almost 100% in correlation to any increase in oil and gas drilling as well as actual production."
Water stations provide a vital source of water needed to drill oil and gas wells. Emco will continue to transport water to and from oil and gas well drill sites in the Permian Basin, which has generated an estimated $40 million in revenues for Emco since 2018. Going forward, with its own water stations, Emco can generate an additional revenue stream that can be significant for its aggressive growth plans. Approximately half the drilling rigs in the U.S. are stationed in the Permian Basin drilling thousands of oil and gas wells annually to provide for the U.S. energy needs.
William Bouyea (CEO of the Company), further stated…"We are excited to announce that we are acquiring water rights in the New Mexico area of the Permian Basin allowing us to capture a revenue stream that has historically been a pass-through. Emco has historically charged transportation fees for the water it transports and passes on the per barrel costs of the third-party water to its customers. This new revenue stream can be expanded as we endeavor to develop additional water stations in our market."
Certain statements that we make may constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The statements contained herein may contain certain forward-looking statements relating to NXMR that are based on the beliefs of NXMR's management as well as assumptions made by and information currently available to NXMR's management. These forward-looking statements are, by their nature, subject to significant risks and uncertainties. These forward-looking statements include, without limitation, statements relating to the NXMR's business prospects, future developments, trends and conditions in the industry and geographical markets in which NXMR operates, its strategies, plans, objectives and goals, its ability to control costs, statements relating to prices, volumes, operations, margins, overall market trends, risk management and exchange rates.
NextMart, Inc., a Delaware Corporation, is a public quoted Pink Sheet issuer under the ticker symbol "NXMR". Currently, NXMR currently is a shell company with a new management team with plans to become a current alternative reporting issuer with OTC Markets. The Company is currently looking for an appropriate business acquisition.
Company Web Site: https://nextmartcorporation.com/
Emco Oilfield Services, LLC Web Site: https://emcooilfield.com/
View original content (Emco Oilfield Services, LLC Acquisition - Dated: January 21, 2022 -Credit to PRNewswire): https://www.prnewswire.com/news-releases/nextmart-inc--acquisition-of-oil-field-services-company-301465579.html
SOURCE NextMart, Inc.