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wastewater tanks Environmental Leader

US Oil Companies Looking for Wastewater Investors

wastewater tanks Environmental LeaderIn an effort to remain financially solvent during the crude oil market slump, a number of US oil companies are looking for investors for their saltwater divisions, Reuters reports.

SandRidge Energy, for example, is marketing its saltwater division as a master limited partnership. Oasis, on the other hand, is looking to sell off at least a portion of its saltwater division. Each deal has the potential to bring its respective company $100 million or more.

Such a transaction may be critical for SandRidge, which has the largest number of saltwater disposal wells in the country, according to the Reuters report. The company has seen its shares go down 90 percent over the last year, and its debt is nearly 20 times its market value.

While it’s unclear how much of its saltwater disposal business Oasis is looking to sell, in a presentation to investors, the company valued the business at $880 million or more.

With a number of states investigating whether a link exists between earthquakes and saltwater disposal, there are some regulatory risks involved for potential investors, but the upside includes hundreds of millions of dollars in annual revenue.

Photo credit: wastewater treatment tanks via Shutterstock

 

 

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