Press release from Business Wire
Waste Management Acquires Two North Dakota Energy Services Companies
<p> Expands environmental service offerings in Bakken Shale </p>
Thursday, August 01, 2013
Waste Management Acquires Two North Dakota Energy Services Companies16:05 EDT Thursday, August 01, 2013
HOUSTON (Business Wire) -- Waste Management, Inc. (NYSE: WM) today announced that it has acquired Summit Energy Services and Liquid Logistics, two Williston, North Dakota energy services companies. The acquisitions will enhance Waste Management's environmental service offerings to oil and gas industry customers working in the Bakken Shale formation.
“While we work with oil and gas customers around the country, these acquisitions give us access to an element we haven't previously served,” said Harry Lamberton, vice president of energy and environmental services for Waste Management. “They also add expertise that we will use in the other North American regions where we provide environmental services to oil and gas customers.”
Lamberton said the addition of 140 employees from the two companies would add skills and services including roustabout and oil well-site maintenance, road and well-site pad construction, storm water and erosion control management, aggregate crushing and sales, well monitoring pumping and more.
Lamberton added that WM eventually will add offerings such as rig maintenance and tank cleaning, drill cuttings solidification and disposal, based on customers' needs.
“Our plan is to collaborate with our customers to become the most capable and comprehensive oilfield services provider in the Bakken Shale,” he said.
The same private owner held both companies and all employees have been retained by WM. Other terms of the deal were not disclosed.
Waste Management Energy Services, a subsidiary of Waste Management, provides environmental management services to the oil and gas industry, including pad services, industrial cleaning, transportation, storage, recycling, liquid and solid waste treatment and disposal processes.
The Bakken Shale formation, located in Montana and North Dakota, is one of the largest oil fields in the United States.
ABOUT WASTE MANAGEMENT
Waste Management, based in Houston, Texas, is the leading provider of comprehensive waste management services in North America. Our subsidiaries provide collection, transfer, recycling and resource recovery, and disposal services. We are the largest residential recycler and also a leading developer, operator and owner of waste-to-energy and landfill-gas-to-energy facilities in the United States. Our customers include residential, commercial, industrial and municipal customers throughout North America. To learn more visit www.wm.com.
Waste Management, Inc.
Jennifer Andrews, 619-890-4698