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Joint venture to provide complete water, fluid management solutions in U.S. shale basins
a joint venture was established between Pinnergy, Ltd. and Shalewater Solutions, LLC to provide complete, integrated water management solutions to support oil and gas operations throughout the U.S. shale basins. The partnership will operate under the name PinnergyShalewater, LLC (the "Company") and will be based in Austin, Texas. The Company will capitalize on Pinnergy's provision of diversified oilfield services and Shalewater Solutions' specialty in water management, flowback and produced water recycling, and logistics technology. Accordingly, the joint venture combines Pinnergy's large geographic footprint and asset base with the water management and reclamation expertise of Shalewater Solutions. The Company will combine over 1,000 employees between the two organizations.
PinnergyShalewater will be one of the largest providers of a complete water and fluid management solution under a single point of contact. Oil and gas producers will benefit from an increase in efficiencies and cost savings through the use of the total water management service offering.
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