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Water management firms merge with eye on shale

Rockwater Energy Solutions and Crescent Companies combine in $207m all-stock deal, form services giant

Houston-based water-management provider Rockwater Energy Solutions plans to merge with Oklahoma City-based Crescent Companies in a $207 million deal that will create a major player in shale plays across the US and Western Canada.

The boards of directors of both companies have unanimously approved the all-stock combination.

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"This is a unique opportunity to combine our resources with an organisation that has an incredibly talented team with similar values and vision," said Rockwater chief executive Holli Ladhani.

"The result is an even stronger company with more capabilities to meet the fast-paced change in our industry and to deliver value to our customers through cost effective solutions."

Once merged, the new company will offer services including water sourcing; transportation; treatment and storage capabilities paired with remote monitoring and control; flowback and well-testing services; fluid logistics; and production and fracturing chemical technologies.

It claims to be one of the largest oilfield water management services companies serving shale plays in North America.

Ladhani will lead the merged company as chief executive, with headquarters in Houston.

Rockwater currently provides services to exploration and production companies and oilfield service companies operating in all the major shale and producing basins in North America, including the Permian basin, the Scoop/Stack, the Bakken, the Eagle Ford, the Appalchian basin, the Rockies and in Western Canada.

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