Proppant provider Iron Oak Power Options LLC mentioned it has acquired Excessive Curler Sand, which operates a low-cost, premier facility in Winkler County, Texas, inside one of many highest-quality sand reserve deposits within the Permian Basin.
Strategically positioned, the Excessive Curler facility enhances Iron Oak Power’s skill to serve the Midland and Delaware Basins, Iron Oak mentioned in a information launch.
The power yearly produces as much as 4 million tons of proppant for oil and fuel operators all through the area, the Houston, Texas-based firm mentioned. Monetary phrases of the deal weren’t disclosed.
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With the acquisition, Iron Oak mentioned it now operates 5 large-scale amenities throughout the Permian Basin: 4 in Winkler County, Texas, and one in Crane County, Texas.
The Permian Basin accounts for over half of the full proppant demand within the USA and continues to extend as a result of larger proppant depth and longer lateral wells on multi-well pad developments, in line with the discharge.
“As main operators proceed to consolidate within the Permian Basin, the addition of Excessive Curler will increase our provide capabilities and enhances our community to higher serve the rising wants of our prospects,” Iron Oak President and CEO Michael Segura mentioned. “This acquisition aligns with our disciplined development plan to develop by way of additions of top of the range and low-cost amenities that develop our attain and capabilities. Prospects of each firms will profit from our elevated provide reliability and broader entry to an expanded community of in-basin sand assets”.
“We’re excited to affix the Iron Oak Power crew and stay up for offering our prospects with extra intensive choices for a safe provide chain and offering our staff with diversified profession development alternatives,” Dave Frattaroli, Government Vice President of Excessive Curler, mentioned.
Along with its Permian Basin operations, Iron Oak operates two top-tier in-basin amenities within the Eagle Ford Shale, positioned in Atascosa and Dimmit Counties, Texas. The Firm additionally operates two northern white sand amenities in Wedron, Illinois, and Tunnel Metropolis, Wisconsin.
The northern white belongings are built-in into Class 1 railroad methods with an in depth community of terminals to allow environment friendly supply of merchandise to main oil and pure fuel shale performs all through North America, the corporate mentioned.
Iron Oak mentioned its complete annual manufacturing capability now reaches 34 million tons.
Iron Oak describes itself as a number one diversified proppant supplier in North America with 9 lively manufacturing amenities and the aptitude to provide each main shale basin throughout North America. The corporate supplies in-basin sand to operators from strategically positioned amenities within the Permian Basin and Eagle Ford Shale and provides premium northern white sand to operators primarily within the Marcellus, Utica, Bakken, and DJ Basins.
The corporate is privately held and backed by Anchorage Capital Advisors L.P., Golden Gate Capital, and NGP.
Excessive Curler Group is an operational holding firm that manages and supplies enterprise capital to investments throughout a number of trade segments, with a major focus concentrated towards vitality, infrastructure, or industrial finish markets. The corporate mentioned it focuses on investing in high-growth alternatives.
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