Aquatech Acquires Fluid Recovery Services
The Aquatech acquisition will immediately expand the network from three to five central water management facilities
Aquatech announced the acquisition of Fluid Recovery Services (FRS). Based in Creekside, Pa., FRS operates a network of central, satellite and mobile facilities that deliver environmentally compliant and economically viable water management services. In addition to treatment, FRS offers water management service options such as storage, transport services (rail and truck), and disposal (non-return) across the state.
FRS was formed through the merger of Pennsylvania Brine Treatment (PBT) and Hart Resource Technologies (HRT). PBT and HRT have a 25-plus year history of providing water management services to the oil & gas industry in the Commonwealth of Pennsylvania and have treated more water than any other service provider in the Marcellus and Utica Shale region.
The Aquatech acquisition will immediately expand the network from three to five central water management facilities located in Franklin, Josephine, Creekside, Rouseville and Tioga, establishing an "end-to-end" network for producers in the Marcellus and Utica Shale region.
Venkee Sharma, president and CEO of Aquatech, said, "Aquatech's goal is to be the leader in oil & gas water management. The acquisition of FRS represents significant progress towards achieving our vision. We will continue to aggressively develop facilities with innovative technology and service solutions to meet the growing needs of our customers."
FRS' water treatment solutions include Aquatech's MoSuite, a synergistic combination of MoTreat, MoVap and crystallization technologies. MoSuite will treat drill fluids, hydraulic fracturing flowback and a wide range of oil & gas wastewaters including safe disposal of high total dissolved solids production brine. Aquatech's approach alleviates the burden on local water resources from shale gas exploration by treating water for beneficial reuse, reducing total dissolved salts, and creating reusable "dewasted" purified distillate, or clean distillate suitable for discharge per established National Pollutant Discharge Elimination System standards.
Devesh Mittal, vice president and general manager of Aquatech's Energy Services, said, "We deliver safe and reliable water management—a critical service to the energy industry that ultimately benefits the environment and the community. Through FRS, our solutions deliver value to a broad spectrum of stakeholders by promoting safe development of unconventional gas in the Marcellus and Utica Shale, and the conventional oil & gas industry in Pennsylvania."
"This is a great opportunity for us to apply our wealth of experience and expand the portfolio of services to the industry. We have been part of the oil & gas history in the Commonwealth of Pennsylvania and will remain a valuable service provider to the industry and the communities we participate in. We will retain and create water management service jobs locally," said Paul Hart, president of FRS.