Stallion Oilfield Services Ltd. said Jan. 3 it completed the acquisition of substantially all of the assets of Basin Wastewater Solutions LLC, a Carlsbad, N.M.-based provider of rig site potable water and wastewater recycling services for the Permian market.
The Basin acquisition allows Stallion to enhance its services to existing customers, and provide the Houston-based company with a well-regarded and technically differentiated product line, according to the release. The terms of the transaction weren't disclosed.
David Mannon, Stallion’s CEO, said in a statement, “Effluent and treated waste streams can now be recycled into the drilling and completions fluid life cycle. This process provides efficiencies to Stallion’s customers, drastically reduces onsite water requirements, and contributes to safer communities by reducing truck traffic to and from well sites.”
Stallion said it will rebrand the Basin service under Stallion Remote Treatment or StaRT and include the service in the suite of offerings Stallion provides to its existing customers.
Justin Moulton, Basin’s founder and managing member, said he believes that the combination with Stallion will allow the company to “accelerate the deployment and adoption of our industry-leading services.”
McRock Capital has held an initial closing on its second venture capital fund, McRock Fund II LP, dedicated to investing in the global trend around the Industrial Internet of Things (IoT) on Sept. 9.
The Dallas-based E&P is focused on the acquisition and development assets in North America, with a primary focus on the Haynesville Shale of East Texas/North Louisiana and the Permian Basin.
Stallion Oilfield Services completed the acquisition of Basin Wastewater Solutions, a Carlsbad, N.M.-based provider of rig site potable water and wastewater recycling services for the Permian market.