Rockwater Energy Solutions Inc. and Crescent Cos. LLC agreed to combine in an all-stock transaction valued at $207 million, the water management service companies said March 28.

Together, Rockwater and Crescent will create one of the largest oilfield water management services companies serving key shale plays across the U.S. and Western Canada, according to the release.

Oklahoma City-based Crescent was founded in 2006 and has more than 400 employees with locations in Oklahoma, Texas, Arkansas, Pennsylvania, Ohio, New Mexico and Wyoming, the release said.

Holli Ladhani Rockwater Energy Solutions Headshot

Rockwater currently provides water management services in the Permian Basin, the Midcontinent including the Scoop/Stack plays, the Bakken, Western Canada, the Marcellus and Utica basins, the Rockies and the Eagle Ford.

Holli Ladhani, president and CEO of Rockwater, views the opportunity to merge as a proactive initiative to capture market share as activity increases.

"The result is an even stronger company with more capabilities to meet the fast-paced change in our industry and to deliver value to our customers through cost-effective solutions," she said in a statement.

Ladhani will continue in her role as chairman, president and CEO. The combined company will be headquartered in Houston with a suite of services including:

  • Water sourcing;
  • Transportation;
  • Treatment and storage capabilities paired with EnviroEdge® remote monitoring and control;
  • Water treatment including Neohydro® Electro-oxidation;
  • Flowback and well testing services;
  • Fluid logistics; and
  • Production and fracturing chemical technologies.

Upon closing, the combined company will retain all current members of Rockwater’s board of directors with the addition of one member, Alexander P. Lynch, partner of White Deer Energy.