Waste Connections to Buy Oil Field Waste Company for $1.3 Billion

Allan Gerlat, News Editor

September 17, 2012

1 Min Read
Waste Connections to Buy Oil Field Waste Company for $1.3 Billion

Waste Connections Inc. has agreed to buy oil field waste treatment and disposal company R360 Environmental Solutions Inc. for approximately $1.3 billion in cash.

R360 provides non-hazardous oilfield waste treatment, recovery and disposal services for natural resource producing areas in the United States with annual revenue of about $300 million. It operates 26 facilities in Louisiana, New Mexico, North Dakota, Oklahoma, Texas and Wyoming, the Woodland, Texas-based Waste Connections said in a news release.

Waste Connections expects the transaction to close in the fourth quarter of this year, subject to certain closing conditions.

“This acquisition represents a natural extension of our existing E&P [exploration and production] disposal activities," said Ron Mittelstaedt, Chairman and CEO of Waste Connections. "While a tepid economy has impacted MSW [municipal solid waste] volumes, increased drilling activity in unconventional areas is fueling impressive organic growth within the E&P waste sector.”

He added that R360 is actively permitting several new sites to further expand its operations.

R360 has about 11 landfills with about two-thirds of its business in solids and the rest liquids, according to a newsletter published by Michael Hoffman, managing director of Wunderlich Securities Inc.



About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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