GreenHunter Water LLC has acquired two oilfield water service and construction companies operating in the Eagle Ford Shale of South Texas. White Top Oilfield Construction LLC and Black Water Services LLC have common management and have been serving Eagle Ford operators since 2008.
Assets acquired include 26 vacuum water hauling trucks, 10 dump trucks, six drilling rig wash trailers and seven pieces of heavy equipment. Located in the town of Louise in Wharton County, TX, with 66 employees, White Top and Black Water service operations are predominantly concentrated in the Texas counties of Gonzales, Karnes and DeWitt. With this closing, the total number of water hauling trucks owned and operated by GreenHunter Water in the Eagle Ford Shale region has grown to 30 units.
The combined purchase price was $3.25 million in cash and securities.
GreenHunter Water is a unit of unconventional oil and gas environmental services company GreenHunter Energy Inc.
“White Top and Black Water have assisted in the construction and have been hauling fluids to GreenHunter’s new South Texas [salt water disposal (SWD) facilities] since they came online over the last several months [see Shale Daily, Oct. 10, 2012],” said GreenHunter COO Jonathan D. Hoopes. “Similar to our Appalachia operations, we expect to realize strong synergies between our SWD facilities and field logistics in the region.
“This transaction greatly improves GreenHunter’s footprint in the fast-growing Eagle Ford Shale region where we anticipate seeing a significant increase in the utilization rates of our SWDs as the White Top and Black Water assets and team become integrated into our organization.”
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