Thursday, December 20, 2012

Salt Water Disposal Acquisition: $43 Million

Link here to company's press release.
Basic Energy Services, Inc. announced today that it has completed the acquisition of substantially all of the assets of Saltwater Disposal of North Dakota, LLC, for a total cash consideration of $43 million. SWDND was founded in 2010 to develop, build and operate salt water disposal facilities in Mountrail County, North Dakota.  The purchase of the assets of SWDND includes five salt water disposal facilities and eight residential housing units.  
Basic expects this acquisition to be accretive to earnings and contribute revenue of approximately $14 million in 2013. As of the date of the acquisition, SWDND employed 16 people. With this purchase, Basic now owns 72 salt water disposal facilities in Texas, Oklahoma, North Dakota, New Mexico and Louisiana.

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