Aquatech Acquires Fluid Recovery Services, Creates Leading Water Management Services Network for Oil & Gas Producers in the Marcellus and Utica Shale Region
CANONSBURG, Pa., May 13, 2013 /PRNewswire/ -- Aquatech, a global leader in water treatment technology and service solutions, announces the acquisition of Fluid Recovery Services (FRS). Based in Creekside, PA, FRS operates a network of central, satellite and mobile facilities that deliver a menu of environmentally compliant and economically viable water management services. In addition to treatment, FRS offers numerous water management service options such as storage, transport services (rail and truck), and disposal (non-return) across the state.
FRS was formed through the merger of Pennsylvania Brine Treatment (PBT) and Hart Resource Technologies (HRT). PBT and HRT have a 25+year history of providing water management services to the oil & gas industry in the Commonwealth of Pennsylvania and have treated more water than any other service provider in the Marcellus and Utica Shale region.
The Aquatech acquisition will immediately expand the network from three to five central water management facilities located in Franklin, Josephine, Creekside, Rouseville and Tioga, establishing an "end-to-end" network for producers in the Marcellus and Utica Shale region. Aquatech's strategy includes investments of capital, technology, expertise and experience.
Venkee Sharma, President and CEO of Aquatech, said, "Aquatech's goal is to be the leader in oil & gas water management. The acquisition of FRS represents significant progress towards achieving our vision. We will continue to aggressively develop facilities with innovative technology and service solutions to meet the growing needs of our customers."
"The FRS network is built on a strong base and will evolve quickly by using cutting-edge, proven and environmentally responsible technologies," he added.
FRS' water treatment solutions include Aquatech's MoSuite™, a synergistic combination of MoTreat®, MoVap® and crystallization technologies. MoSuite™ will treat drill fluids, hydraulic fracturing flowback and a wide range of oil & gas wastewaters including safe disposal of high total dissolved solids (TDS) production brine. Aquatech's approach alleviates the burden on local water resources from shale gas exploration by treating water for beneficial reuse, reducing total dissolved salts, and creating reusable "dewasted" purified distillate, or clean distillate suitable for discharge per established National Pollutant Discharge Elimination System (NPDES) standards.
Devesh Mittal, Vice President and General Manager of Aquatech's Energy Services, noted, "We deliver safe and reliable water management – a critical service to the energy industry that ultimately benefits the environment and the community. Through FRS, our solutions deliver value to a broad spectrum of stakeholders by promoting safe development of unconventional gas in the Marcellus and Utica Shale, and the conventional oil & gas industry in Pennsylvania."
"This is a great opportunity for us to apply our wealth of experience and expand the portfolio of services to the industry. We have been part of the oil & gas history in the Commonwealth of Pennsylvania and will remain a valuable service provider to the industry and the communities we participate in. We will retain and create water management service jobs locally," said Paul Hart, President of FRS.
FRS has a unique mix of technology and experience in oil & gas production water management with in-house ability to stay ahead of regulatory and gas producers' requirements as the Marcellus and Utica Shale develop further.
Aquatech (www.aquatech.com) is a global leader in water purification technology and services for the industrial and infrastructure markets with a focus on the treatment of produced waters, desalination, water reuse, and zero liquid discharge (ZLD). The company is headquartered in Canonsburg, Pennsylvania, in the heart of the Marcellus Shale region of the United States, and has a significant presence worldwide through subsidiaries in India, Europe, the Middle East, and China. The company has executed more than 1,000 projects in over 60 countries around the world and is a leader in the oil & gas wastewater treatment, recycle and reuse technology, processing nearly 1,000,000 barrels of produced water daily. Aquatech strives to provide technology leadership and performance excellence to the global water industry, and aims to support its clients with cutting-edge sustainable solutions, minimizing their life cycle cost, as well as their carbon and water footprint.
About Fluid Recovery Services
Fluid Recovery Services is a leading network of central, satellite and mobile water management facilities across the Marcellus and Utica Shale region servicing the conventional and unconventional oil & gas industry. The company combines over 25 years of production water management experience with a cutting-edge technology portfolio delivering sustainable water options to the industry. In doing so, the company actively participates in the community by meeting regulatory requirements that align industry and public interest.
Contact: Ann Seamonds
+1-978-887-9959; mobile +1-978-764-5528
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