A private equity firm has purchased a majority interest in Susquehanna Services Inc., a solid waste processor for oil and natural drilling operations.
Specialty Waste Operating Partners L.P. (SWOP), New York, said the Swoyersville, Pa., Susquehanna has operations in the shale formations of Marcellus and Utica (New York) and Green River (Wyoming). Specialty Waste, which focuses on fluid handling, treatment, reuse and disposal, said in a news release the purchase was for an undisclosed amount.
Susquehanna uses a proprietary system to process drill cuttings for disposal during the drilling phase of oil and gas development. The company provides an integrated solution for its customers' solids processing needs with a focus on increased efficiency for drilling operations, Specialty Waste said.
John Yarosz, Susquehanna's founder, has retained a significant equity stake in the company and has been named chairman of the firm’s board of directors. Susquehanna also has appointed Arnie Little as president and CEO.
"Susquehanna is an innovative leader in solids processing services for oil and natural gas drilling operations, and we are delighted to work with a strong team led by John and Arnie," said Andy Freeman, co-president of SWOP.