Fortress Environmental Holdings is raising startup capital to complete the buildout of its second supercenter disposal facility, which includes a saltwater disposal well (SWD), through an equity crowdfunding agreement with ROKY Oil Services Investments, the company said Sept. 21.
The facility in Dimmit County, Texas, also has a mud farm, commercial truck wash and frack tank washout center serving Eagle Ford Shale operators.
In 2014, Fortress raised more than $9.3 million to build its first SWD supercenter prototype in Waelder, Texas, by working with ROKY's oil and gas investment syndicate. That facility serves oilfield trucking fleets and drilling operators.
"After evaluating numerous equity and energy crowdfunding sites, we selected ROKY's investor relations team based on their 22-year, proven track record of successfully raising money and funding more than 250 oil and gas projects throughout Kansas, Louisiana, New Mexico, Oklahoma, Texas and Wyoming," said Tim Koziol, Fortress' CEO.
"ROKY has a very impressive crowdfunding investment syndicate led by Mike Parsons and two super angel investors, Jim Casparie and Elliot Reiff, who developed TVA's leading-edge fundability assessment rating system to vet deals for their network of more than 600 accredited investors who follow their recommendations," he added.
ROKY Oil Services Investments is currently accepting new qualified and accredited investors into the investment syndicate.
Citla plans to expand its oil exploration and production in Mexico through awards of bids, acquisitions, and partnerships with other operators, the IFC said in a statement.
International Energy Agency Executive Director Fatih Birol said last month that global upstream investment fell by 24% in 2015 and is set to fall by 18% in 2016, Reuters reported.
KKR Asian Fund II will provide most of the investment. The platform will provide integrated solutions for engineering, maintenance, repair and overhaul services for asset owners and operators.