Citadel Energy Services LLC announced Oct. 21 it made a large scale acquisition of more than 130 freshwater sources spanning several counties in North Dakota's Bakken Shale. The details of the transactions weren't disclosed.
The newly acquired sources are expected to be permitted for a combined 200 million barrels of water supply annually. The acquisition boosts the Watford City, N.D.-based company’s total freshwater sources to more than 150 locations.
The new freshwater sources are located in McKenzie, Williams, Burke, Divide and Mountrail counties, which are the busiest counties of the Bakken Shale for oil drilling activity. Permits have already been issued for more than 55 million barrels annually and the remainder are in process with the state.
Stanton Dodson, executive chairman of Citadel, said in a statement, "This acquisition strengthens Citadel Energy’s position as one of the fastest-growing freshwater and oilfield waste management companies in the Bakken. Very little infrastructure is needed on Citadel's part and these sites will immediately add to our bottom line."
Following the acquisition, the company also announced the launch of Citadel H2O, a Citadel company. Operating as a freshwater provider, Citadel H2O is able to provide cost effective, reliable and consistent freshwater supply and transfer to oil producers and transportation companies, who utilize fresh water in the oil field as well as ongoing well maintenance.
Additionally, Citadel has seven saltwater disposal facilities under development as well as emerging oilfield waste treatment capabilities. With plans to open more saltwater disposal facilities, Citadel has created a stronghold in the Bakken Shale region in providing freshwater sources and oilfield waste management services.
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