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California American Water Completes Rancho Canada Well #2 Rehabilitation

1. California American Water completed the Rancho Canada Well rehabilitation project. 2. Well production increased from 250 to 500 gallons per minute post-rehabilitation. 3. Infrastructure investment ensures reliable water service for 100,000 residents. 4. Regular maintenance reduces costly repairs, enhancing operational efficiency.

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Why Bullish?

The rehabilitation project improves water supply reliability, signaling robust infrastructure management. Previous projects have positively influenced AWK's stock by enhancing operational efficiency, evident from similar updates leading to price rebounds in the past.

How important is it?

The article highlights critical investments in infrastructure improving operational capacity, likely bolstering investor confidence and long-term growth prospects for AWK.

Why Long Term?

Long-term benefits arise from infrastructure reliability ensuring sustained service quality and customer satisfaction, which can drive customer base growth and positive revenue outlook over time.

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PACIFIC GROVE, Calif.--(BUSINESS WIRE)--California American Water recently completed the Rancho Canada Well #2 rehabilitation project in Carmel. This proactive infrastructure improvement will help ensure continued reliable water service for customers and proactively address current and future maintenance needs. The well improvements included the removal of the pump, motor, column pipe and video inspection of the well. During the mechanical inspection and repair process, cleaning of mineral deposits was performed along with overall cleaning and sterilization of the well. “There’s a lot of important mechanical equipment working underground that people don’t see as they walk or drive by our facilities,” said Scott Ottmar, Senior Project Engineer at California American Water. “Staying on top of routine cleaning and inspection of our infrastructure is what helps ensure the efficient operation of the facility, reducing costly repairs.” Prior to rehabilitation, the well was producing roughly 250 gallons of water per minute. After rehabilitation the well now produces approximately 500 gallons per minute. This investment in infrastructure is critical for the continued ability for California American Water to provide safe, clean and reliable water service to approximately 100,000 residents in our local service area. About American Water American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,700 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders. For more information, visit amwater.com and join American Water on LinkedIn, Facebook, X and Instagram. About California American Water California American Water, a subsidiary of American Water, provides safe, clean and reliable water and wastewater services to approximately 750,000 people. For more information, visit www.californiaamwater.com and follow California American Water on LinkedIn, Facebook, X, and Instagram.

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