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American Water Acquisition Expands Shale Development Services

American Water Works, the largest publicly traded US water and wastewater utility company, has agreed to acquire Keystone Clearwater Solutions from Rex Energy for $130 million.

Keystone, headquartered in Hershey, Pennsylvania, is a water service provider offering a range of water-related services to the oil and gas industry primarily in the Appalachian region of Pennsylvania, Ohio and West Virginia.

Susan Story, president and CEO of American Water, says the acquisition delivers on one of the company’s growth strategies: to develop complementary businesses. “Coupled with our existing activity in shale, the Keystone acquisition will enhance our ability to provide additional water services solutions to shale development companies,” Story says.

Upon completion of the acquisition, Keystone will operate as a separate, independent subsidiary of American Water.

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