HOUSTON, Feb. 16, 2011 /PRNewswire/ -- R360 Environmental Solutions, Inc. announced today its purchase of the Silo Field facility in Southeastern Wyoming from Western Environmental Services. The purchase price and terms were not disclosed.
Silo Field is the only oilfield wastewater facility in the Niobrara Shale play—an oil shale resource region that is currently the focus of large-scale lease purchases and widespread infrastructure growth. The facility's purchase closed February 11th.
The purchase marks the first step for R360's growth plan in the Niobrara Shale, which will ultimately include multiple sites. The Company will increase the capacity of Silo Field more than ten-fold, and devote significant resources to ensure the facility's success. Immediate plans will bring the facility to 122 acres from its original 10 acre footprint, and the addition of water recycling technology will further increase capacity. The expanded facility will include full recycling and disposal services for all E&P waste streams, including produced water, flowback, oil, drilling mud and cuttings, and is scheduled to be online in late 2011. "Recycling of E&P waste, especially wastewater, in the Niobrara Shale is critical," said Gabriel Rio, R360's Senior Vice President, "Our company is committed to quickly expanding the Silo Field facility into a flagship Total Recycling Center that will fully and reliably meet the Industry's oilfield waste management needs as the Niobrara Shale play develops."
The company purchased the facility from Western Environmental Services, Inc. Robert Van Risseghem, CEO at WES, said, "R360 is really focusing on responsible management of oilfield waste and recycling of water. They have the knowledge and resources to quickly expand this facility and fully serve our Industry's waste management needs. I am thrilled to be part of this great deal for our stakeholders, for R360, for the community and for the E&P customers developing the Niobrara Shale."
R360 Environmental Solutions has been quietly building its oilfield waste management services. The company has acquired five companies and a number of facilities in several states during the last year. Silo Field marks R360's fourth facility in the state of Wyoming, and its 20th E&P waste management facility.
About R360 Environmental Solutions
Based in Houston, R360 Environmental Solutions, Inc. is the nation's leading oilfield environmental solutions company. They provide E&P waste and water recycling, as well as treatment and disposal solutions to some of the world's leading oil and gas producers. R360 helps oil and gas operators ensure environmental performance and compliance in major oil and gas plays nationwide.
Media Contact: Vicki Williams, Director of Strategic Marketing
R360 Environmental Solutions, Inc.
SOURCE R360 Environmental Solutions, Inc.