One waste management company is adding to their assets in the Eagle Ford region of South Texas and plans for further expansion in 2016.
Related: Natural Gas Will be a Boom for Eagle Ford Companies
In the middle of the downturn, many operators and oil and gas service industries are shrinking, but Milestone Environmental Services, LLC announced this week that it will expand.
Milestone has acquired an oilfield waste facility currently under construction near Smiley, in Gonzalez County, Texas through a newly-formed subsidiary with Intervale Capital.
Houston-based Milestone manages oilfield waste through their state-of-the-art disposal facilities. The company already has an extensive footprint in the Eagle Ford region that includes four injection locations, with two other locations in Katy and Jasper, Texas.
“The Smiley transaction marks the successful completion of the first stage of Milestone’s geographic expansion.”
Acquisitions have become an attractive growth option for Milestone. Even in the middle of the downturn, the company believes that waste management in the oilfield is underserved. In a separate press release, the company announced plans to fund acquisitions throughout 2016.
“We recognize we are pursuing a contrarian strategy to build service capacity during the worst downturn in a couple decades. We want to put capacity in places where the industry needs it. We can do this with good returns today that should be excellent down the road when the market recovers.”