Sep 26, 2016, 08:00 ET
NEW YORK and HOUSTON, Sept. 26, 2016 /PRNewswire/ -- HudsonField, which provides solutions to physical logistics, financing, and risk management challenges to the North American oil and gas markets, announced today an investment in S&S Heavy Haul, LLC ("SSHH"), a crude oil, condensate and natural gas liquids (NGL) trucking company with operations in Texas, Oklahoma and North Dakota. Proceeds from the investment will be used to expand SSHH's operations to serve the Utica/Marcellus formations in Ohio in the 4th quarter of 2016. SSHH's management and owners will remain with the company and will serve on SSHH's board of directors.
"We are pleased to be partnering with one of the highest caliber management teams and trucking companies in the oil transportation business," said Ben Freeman, CEO of HudsonField. "Our investment in SSHH is the first of several planned transactions as HudsonField develops a presence in the oil and gas midstream business. SSHH's commitment to safety and reliable, customer service aligns extremely well with HudsonField's mission to best serve its clients' needs."
SSHH hauls for major oil and gas producers and marketers under contractual commitments, and currently transports approximately 15,000 barrels per day with 27 trucks. "Establishing HudsonField's footprint in the crude oil, condensate and NGL trucking business is a strategic step in providing optionality for our clients," said Scott Bormaster, president, HudsonField marketing and transportation. "Together with SSHH, HudsonField's marketing arm will bring our clients more opportunities to increase their netbacks by identifying new markets and delivery alternatives."
SSHH CEO Dustin Marchand added, "We've been looking for the right partner to help grow our company and are excited to be working with HudsonField. The company's producer financing, marketing, and hedge advisory capabilities complement SSHH's trucking business and give us more tools to help our clients improve their performance."
HudsonField is a client-focused company providing solutions to physical logistics, financing, and risk management challenges. The company's clients are oil & gas producers, midstream operators, end-users of oil & gas, and financial services companies. HudsonField is uniquely positioned to solve problems in the ever-changing mosaic of energy markets, bank and commodity regulations, and geopolitics. Formed in 2014, HudsonField is led by energy and financial services industry veterans. Additional information about HudsonField may be found on its website, www.hudsonfield.com.
About S&S Heavy Haul
S&S Heavy Haul, LLC provides crude oil, condensate, NGL, sand, and water trucking services. SSHH's fleet of trucks currently operates in Texas, Oklahoma and North Dakota. Additional information about S&S Heavy Haul is available at www.ssheavyhaul.com.
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