Waste Connections is acquiring R360 Environmental Solutions for $1.3 billion. The deal gives Woodlands based Waste Connections operations in several key oil & gas basins across the country. R360 provides non-hazardous oilfield waste treatment, recovery and disposal services in the oil-rich Permian, Bakken and Eagle Ford Basins. Operations include 26 facilities across Louisiana, New Mexico, North Dakota, Oklahoma, Texas and Wyoming.
“Through acquisitions and new facility development, R360 has created leading positions in key basins, providing closed loop oilfield waste services within an increasingly stringent regulatory environment. This acquisition represents a natural extension of our existing E&P disposal activities,” said Ronald J. Mittelstaedt, Chairman and Chief Executive Officer. “While a tepid economy has impacted MSW volumes, increased drilling activity in unconventional areas is fueling impressive organic growth within the E&P waste sector. R360 is actively permitting several new sites to further expand its operations in this growing industry.” [Read more…]