LTT ATX CARGO JET RUNS OFF END OF RWY AT UNCTLED ARPT DUE TO WET RWY AND POSSIBLE HYDROPLANING OF ACFT.

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DEPARTED EL PASO; TX; AT 27500 LBS GROSS WT FOR SRB. ENRTE WAS UNEVENTFUL. AWOS 3 AT SRB RPTED 1200 FT BROKEN; 4 MI VISIBILITY; CALM WINDS (NO RPT OF RWY CONDITIONS OR PRECIPITATION). TRIED TO CONTACT UNICOM; BUT NO ANSWER. CLRED FOR AN NDB APCH RWY 4. ACFT WAS IN LNDG CONFIGN; LNDG CHKLIST COMPLETE; WINGS LEVEL AT VREF (120 KIAS) PLUS 10 AT 1 1/2 MI FROM APCH END OF RWY 4; ON PAPI GS. TOUCHDOWN WAS ABEAM THE PAPI; ON GS; WINGS LEVEL AT VREF MINUS 2 (118 KIAS). ON TOUCHDOWN; THE SPD BRAKES WERE DEPLOYED AND THE BRAKES WERE APPLIED. NO BRAKING ACTION WAS FELT. PASSED MID-FIELD INTXN AT APPROX 100 KIAS. AT THIS POINT; THE PIC SHUT DOWN THE R ENG AND MAINTAINED BRAKE PRESSURE. WITH APPROX 1500 FT OF RWY REMAINING; THE PIC SHUT DOWN THE L ENG. (THE STANDBY) HYD PUMP HAD BEEN ARMED AT THE IAF AS A BACKUP FIX BRAKES AND STEERING. WITH APPROX 100 FT OF RWY REMAINING; THE ACFT WAS STILL GOING 60 KIAS. ACFT ENTERED THE OVERRUN AREA AT APPROX 40 KIAS AND STOPPED IN THE MUD APPROX 150 FT OFF THE END OF THE RWY. NO DAMAGE TO ACFT; NO INJURIES. RECOMMENDATIONS: AWOS 3 SHOULD INCLUDE PRECIPITATION RPTS AND POSSIBLY RWY CONDITIONS. CARGO FALCONS THAT HAVE THEIR DRAG CHUTES AND THRUST REVERSERS REMOVED FOR SIMPLICITY OF MAINT SHOULD NOT FLY INTO WET RWYS LESS THAN 6000 FT LONG. CONCLUSION: I BELIEVE ACFT WAS SUBJECTED TO A VISCOUS HYDROPLANING SIT.