The decision to acquire the Shelby County facility was a strategic one that supports Milestone’s growth while serving the environmental needs of E&P operators in major U.S. basins, said Gabriel Rio, president and CEO of Milestone. (Source: Milestone Environmental Services LLC / Business Wire)
Milestone Environmental Services LLC recently acquired an energy waste disposal facility in Center, Texas, along with additional permits, marking the Houston-based company’s entrance into the East Texas Haynesville Shale.
“Milestone’s mission is to Clean Up Energy℠,” commented Gabriel Rio, president and CEO of Milestone, in a company release on Jan. 4. “We believe we have an obligation to help our customers make good on their commitments to lower their emissions and produce vital energy for the world in a more sustainable way.”
One of the largest independent energy waste sequestration companies in the U.S., Milestone had been an operator in East Texas for several years prior to the acquisition. However, the company said its acquisition of the Center facility repositions Milestone in the core of the Haynesville and makes Milestone a leading operator of environmental infrastructure in the basin.
“We believe the Haynesville will be a growing market given the increased global demand for natural gas as the world transitions its energy usage to lower-carbon sources,” Rio added in the release.
The acquisition includes the purchase of an active slurry injection facility that is a cornerstone of the environmental infrastructure in place to manage energy waste generated by E&P operators drilling for natural gas in the Haynesville Shale in Texas and Louisiana. The facility, which includes two inception wells, is located in Shelby County, three miles north of Center, Texas, on Hwy 96.
According to its release, Milestone plans to continue normal business operations for customers and employees of the facility, and also plans several upgrades to the location over time.
“Our decision to acquire these assets was a strategic one that supports Milestone’s growth while serving the environmental needs of E&P operators in major U.S. basins,” Rio said.
Milestone is a “net negative” energy waste sequestration company with a network of slurry injection sites and E&P landfills throughout the Permian Basin, Eagle Ford Shale and Haynesville Shale.
In addition, the transaction on Jan. 4 included purchase options on two yet-unconstructed energy waste landfill permits in Texas—one in the Haynesville Shale and one in the Permian Basin. Milestone expects the addition of the permits to its portfolio of permitted locations provide opportunities for the company to further develop its energy waste infrastructure, the company said in its release.
Terms of the transaction weren’t disclosed. The transaction has an effective date of Dec. 31.
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