The American Oil & Gas Reporter Article - July 2016
According to alternative investment research firm Preqin, private equity firms have $971.4 billion on hand to invest in the oil and gas sector. For perspective, that is three times the size of Canada’s total budgeted federal expenditures in fiscal year 2016. Even for a capital-intensive industry, that is a lot of investment dollars waiting for opportunity to come knocking!
A survey of private equity firms conducted by Ernst & Young suggests much of that capital will go to producers and midstream companies, but upstream service companies focused on all aspects of the value chain–from exploration to drilling, completion, production and even back-office business functions–also are in the mix for private equity placements.
The predecessor to Milestone Environmental Services pioneered a cost-effective and safe process for building and operating disposal wells that can accept everything from produced water to oil-based drilling mud and production tank bottoms, relates Milestone president and CEO Gabriel J. Rio.
“The slurry injection process we use is well suited to extremely dirty fluids that would not be appropriate for a saltwater disposal well,” he says. “These fluids might otherwise be sent to an oil field waste landfill, which would need to either add drying agents or use mechanical equipment to separate the solids and liquids. Both processes are more expensive than slurry injection."
To read the full article click here