Joint venture to provide complete water, fluid management solutions in U.S. shale basins
A joint venture was established between Pinnergy, Ltd. and Shalewater Solutions, LLC to provide complete, integrated water management solutions to support oil and gas operations throughout the U.S. shale basins.
AUSTIN, TEXAS, May 14, 2014 -- On Monday, May 12, a joint venture was established between Pinnergy, Ltd. and Shalewater Solutions, LLC to provide complete, integrated water management solutions to support oil and gas operations throughout the U.S. shale basins.
The partnership will operate under the name PinnergyShalewater, LLC (the "Company") and will be based in Austin, Texas. The Company will capitalize on Pinnergy's provision of diversified oilfield services and Shalewater Solutions' specialty in water management, flowback and produced water recycling, and logistics technology.
Accordingly, the joint venture combines Pinnergy's large geographic footprint and asset base with the water management and reclamation expertise of Shalewater Solutions. The Company will combine over 1,000 employees between the two organizations.
PinnergyShalewater will be one of the largest providers of a complete water and fluid management solution under a single point of contact. Oil and gas producers will benefit from an increase in efficiencies and cost savings through the use of the total water management service offering.
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Headquartered in Austin, Texas, Pinnergy is a professionally managed oilfield service company, providing a suite of drilling, completion and production related services in several major U.S. onshore oil and gas producing regions. Pinnergy offers a wide array of fluid services, oil & gas waste disposal services, drilling services and rental services to the energy industry, including fluid hauling and vacuum trucks, frac tank rental, surface casing drilling, conductor drilling, cellar, rat & mouse hole drilling, water-well drilling and generator, water-line and pump rental. For more information, visit www.pinnergy.com.
About Shalewater Solutions
Shalewater Solutions provides solutions for the complex water issues faced by oil and natural gas producers in shale plays nationwide. Shalewater provides water management services including water recycling, water transfer and storage, and water logistics management. Shalewater's smart application of technology utilizes its Coagulization™ process and patent-pending equipment design to solve the most challenging water treatment problems. Shalewater marketed ShaleApps™, a water logistics software solution and mobile app that provides real-time water accounting and regulatory reports. For more information, visit www.shalewater.com.