Rockwater Energy Solutions Announces Successful Completion of Four-Way Combination
New Fluids Management & Environmental Solutions Company Will Serve Oilfield Shale Plays
Larry O’Donnell, Chairman, President and CEO of Rockwater, remarked, “This combination brings together a group of fluids management, chemical and logistics services companies that, combined, uniquely offer comprehensive fluid management and environmental solutions to our energy customers. Rockwater Energy Solutions is well positioned for continued growth in this very fragmented sector of the oilfield services industry, at a time when our customers, particularly those in the shale plays, desire more environmentally sound solutions for hydraulic fracturing. I am very proud of the strong management team and technology we have assembled at Rockwater. Each of these companies has achieved tremendous success in their own right. By working together, we can build on this experience and success to offer customized solutions to meet our customers’ water, stimulation, fracturing, fluids and production needs.”
Rockwater will continue to work closely with
“We have an outstanding management team of seasoned professionals led by Larry O’Donnell,” added
Already a majority owner of all four companies, SCF has committed
Rockwater’s Senior Executive Team:
Larry O’Donnell joins Rockwater as Chairman, President and CEO. Mr. O’Donnell began his career in the oilfield services industry in 1991 with Baker Hughes Incorporated, a leading international oilfield services firm. In 2000, Mr. O’Donnell was recruited to help lead the turn-around of Waste Management, Inc., a Fortune 200 waste logistics, collection, disposal, recycling, energy-from-waste and environmental services firm with more than
About Rockwater Energy Solutions
Rockwater Energy Solutions provides comprehensive fluids management services and environmental solutions, including water transfer by anti-leak pipe; production, stimulation, and specialty chemicals, including friction reducers, corrosion and scale inhibitors, and biocides; environmentally friendly hydraulic fracturing fluid components, such as food based guar and guar derivative products, and proprietary cross-linker technologies; pipeline additives; fluids management, logistics and transportation of fluids, proppants, and oilfield service products through its more than 600 trucks; transloading from rail and storage of sand and other proppant used in hydraulic fracturing; storage of crude oil and other fluids in its tank farms; and well testing and flow-back services. Rockwater is headquartered in
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Benchmark is a leading developer, manufacturer, and supplier of specialty chemicals for the oil well pressure pumping services industry, with research and manufacturing centers in
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EnerMAX is a leading fluid management services provider offering fluid sales, storage, transport, pumping and recovery and disposal services from 26 service centers throughout
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Red Oak provides 24 hour water management and transfer services to the oil and gas industry. Red Oak has transferred water within the Barnett, Marcellus, Eagle Ford and Haynesville shales for many different energy companies. Red Oak’s services include: providing pumps, 10“ aluminum pipe; and 8” anti-leak locking poly-resin pipe to supply water to support hydraulic fracturing treatments; single line pit to pit transfers; pump set-up for drilling rigs; fast-line or poly-pipe services; generator set up for water wells; electric pumps; a variety of silent pumps and reserve pit filtration service; and flow back, well testing, as well as other wellsite activities. Red Oak currently operates in the Marcellus, Barnett, Eagle Ford, and Granite Wash areas. Red Oak’s headquarters are in
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Reef provides services and chemicals for oilfield production and stimulation, pipeline transmission, remediation, water management, mining and quarry operations. Reef’s services provide customers with the ability to return non-producing wells to productivity and to maximize well output. Reef’s products include production chemicals, stimulation additives, water treating chemicals, drilling fluid additives, and pipeline chemicals, such as biocides, corrosion and scale inhibitors, specialty products, and friction reducers. Reef’s headquarters are in
Forward Looking Statements.
• regulations, changes in permitting, or moratoriums on drilling or hydraulic fracturing may negatively impact our business by, among other things, restricting our operations or the operations of our customers, increasing costs of operations or requiring additional capital expenditures;
• fluctuations in oil & gas commodity price, drilling and completion activity, and oil and gas production;
• limitations on, shortages of, or inadequate supplies of, water, sand, proppant, chemicals, or other materials used in our products, or equipment (either our own or that used by our customers);
• an inability to obtain and maintain permits needed to open, operate, and/or expand our facilities;
• fuel price increases or fuel supply shortages;
• changes in regulations and environmental compliance;
• volatility and deterioration in the credit markets, inflation and other general and local economic conditions;
• competition may negatively affect our profitability or cash flows;
• we may be unable to maintain or expand margins if we are unable to control costs or raise prices;
• weather conditions may cause our quarter-to-quarter results to fluctuate, and harsh weather or natural disasters may cause us to temporarily shut down operations;
• climate change legislation, including possible limits on carbon emissions, may negatively impact our results of operations by increasing operating costs and capital expenditures that may be required to comply with any such legislation;
• increased costs of, or the inability to obtain, or the inadequacy of, our insurance coverages could negatively impact our liquidity and increase our liabilities;
• negative outcomes of litigation or threatened litigation or governmental proceedings may increase our costs, limit our ability to conduct or expand our operations, or limit our ability to execute our business plans and strategies;
• the adoption of new accounting standards or interpretations may cause fluctuations in our financial results; and
• we may reduce capital spending or cease acquisitions if cash flows are less than we expect and we are not able to obtain capital needed to refinance our debt obligations, including near-term maturities, on acceptable terms, and higher interest rates and market conditions may increase our expenses.
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Executive Vice President & CFO
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Vice President of Marketing
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