- The acquisition would allow Waste Management to foray further into the oil & gas industry.
- The financial details pertaining to the acquisition of the oilfield landfill operator have not been disclosed.
Waste Management Energy Services Holdings, LLC, (WM Energy Services), a subsidiary of Texas-based waste management firm Waste Management, Inc., has reportedly announced the acquisition of oilfield landfill operator, PetroWaste Environmental from Dallas-based Tailwater Capital LLC.
Reports cite, the acquisition would allow Waste Management to foray further into the oil & gas industry by enabling it to expand its service offerings in the sector by a considerable margin.
According to a report by the Houston Chronicle, active across the West and the South of Texas, particularly inside the Permian Basin as well as the Eagle Ford Shale respectively, PetroWaste has developed a vast network of landfills & saltwater disposal wells to receive waste through the regions oil & natural gas operations.
This now enables Waste Management to have a strong presence throughout the Permian Basin with several disposal sites across West Texas and an expanding presence inside the Eagle Ford Shale with one disposal facility presently under development & a second one been permitted inside South Texas.
The Four Corners Area Vice President at Waste Management, Scott Bradley said the acquisition expands the company’s business to facilitate distinguished & superior solid waste disposal services to oil & gas producing enterprises operating across Texas. Bradley further added, by leveraging PetroWaste’s expansive footprint & scale, cutting-edge disposal facilities, vast customer base and core competencies, the company expects to create enough momentum for sustainable & significant business growth.
The CEO of PetroWaste Environmental, George Wommack stated that the company is extremely proud of the platform it has built and appreciates the amount of hard work put in by the dedicated PetroWaste team. Wommack further added that the company is thrilled to hand over the reins of one of the best industry players.
According to reports, the financial details pertaining to the acquisition of the oilfield landfill operator have not been disclosed yet.