Aqua Terra Water Management, which provides waste management and water disposal for the oil and gas industry in North America, has acquired of Advance Hydrocarbon Corporation, which owns a vertically integrated network of seven commercial disposal facilities served by 62 company operated vacuum trucks in the College Station, Texas region.
The companies did not disclose terms of the acquisition.
Scott Perekslis, managing partner and co-founder of New York-based private investment firm Bregal Partners, says the acquisition of Advance, combined with recent facility openings in the Canadian Bakken and the Alberta Montney, will enhance Aqua Terra’s presence in the leading unconventional plays in the US and Canada.
Aqua Terra’s current network of 25 Class 1b and Class II facilities serves customers throughout the Canadian provinces of Alberta, Saskatchewan, and British Columbia as well as US producers in North Dakota and Texas. Aqua Terra is actively seeking greenfield development opportunities and acquisitions in both the US and Canada.
Wastewater treatment spending for fracking is expected to grow almost three-fold, from $138 million in 2014 to $357 million in 2020, according to a report by Bluefield Research.