Pinnergy And Shalewater Solutions Announce Joint Venture
AUSTIN, TEXAS--(BUSINESS WIRE)--
Pinnergy, Ltd. and Shalewater Solutions, LLC today announced a joint venture to provide complete, integrated water management solutions to support oil and gas operations throughout the U.S. shale basins.
The joint venture will operate under the name PinnergyShalewater, LLC (the “Company”) and will be based in Austin, Texas. The Company will capitalize on the strong reputation Pinnergy has developed as a leading provider of diversified oilfield services and Shalewater Solutions’ strength in water management, flowback and produced water recycling, and logistics technology. The joint venture combines Pinnergy’s large geographic footprint and significant asset base with the water management and reclamation expertise of Shalewater Solutions. The Company will leverage the combined expertise of over 1,000 employees between the two organizations.
“This agreement represents each organization’s strong commitment to provide customers with the best single source for water and fluid management,” said Randy Taylor, CEO of Pinnergy. “To date, the two companies have reclaimed more than 12 million barrels of produced and frac flowback water. Shalewater Solutions’ innovative water management and reclamation systems, and Pinnergy’s reputation for service excellence, provides a combined offering that can’t be matched in today’s water-sensitive environment.”
PinnergyShalewater will be one of the largest providers of a complete water and fluid management solution under a single point of contact. Oil and gas producers will benefit from an unprecedented increase in efficiencies and cost savings through the use of the total water management service offering, including:
- Coagulization™, a custom designed precipitation process for oilfield water reclamation using proprietary chemical formulas and enhanced patented precipitation processes based on unique customer requirements
- Mobile Treatment Units (“MTU”) capable of treatment rates in excess of ~20,000 barrels per day (~600 gpm)
- Water transfer using HDPE pipe and lay flat hose
- Water storage and above-ground tanks
- Water sourcing
- Water logistics management technology using the patent-pending ShaleApps™ software solution
- Fluid services including vacuum trucks, frac tanks and rental equipment
- Saltwater disposal wells (SWDs) using deep-well injection
- De-watering of residual wastes including drill mud, drill cuttings and completion wastes
- Hauling and disposing of residual solid wastes
“Balancing environmental concerns and stewardship with regulatory compliance and costs is critical to our customers,” commented Chance Richie, CEO of Shalewater Solutions. “This integrated approach will bring improved efficiencies and cost savings through a single source service offering. By leveraging Pinnergy’s extensive sales footprint, we will ensure that producers in multiple shale plays will benefit from our water customization services.”
PinnergyShalewater’s executive leadership will be CEO, Randy Taylor and President, Chance Richie. More information can be found at www.pinnergyshalewater.com.
Headquartered in Austin, Texas, Pinnergy is a professionally managed oilfield service company, providing a suite of drilling, completion and production related services in several major U.S. onshore oil and gas producing regions. Pinnergy offers a wide array of fluid services, oil & gas waste disposal services, drilling services and rental services to the energy industry, including fluid hauling and vacuum trucks, frac tank rental, surface casing drilling, conductor drilling, cellar, rat & mouse hole drilling, water-well drilling and generator, water-line and pump rental. Pinnergy owns and operates numerous saltwater disposal wells permitted by both the Texas Railroad Commission and the Louisiana Department of Natural Resources, and is actively adding more disposal sites in various geographic regions. Pinnergy is one of the largest providers of fluid handling services and drilling services with operating locations throughout the Permian Basin, Eagle Ford Shale, Barnett Shale, Haynesville Shale, Eaglebine and in multiple locations throughout the Ark-La-Tex. More information can be found at www.pinnergy.com.
About Shalewater Solutions
Shalewater Solutions provides solutions for the complex water issues faced by oil and natural gas producers in shale plays nationwide. Shalewater provides water management services including water recycling, water transfer and storage, and water logistics management. Shalewater’s smart application of technology utilizes its Coagulization™ process and patent-pending equipment design to solve the most challenging water treatment problems. Shalewater was first-to-market with their water logistics software solution ShaleApps™, a water logistics software solution and mobile app that provides real-time water accounting and regulatory reports. The reporting capability and real-time data enables more cost-effective decisions regarding fluid movement. This novel approach eliminates the current paper systems and potential for human error in water logistics, as well as providing accounting ease related to proper water cost allocation. More information can be found at www.shalewater.com.
Copyright Business Wire 2014