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Citadel Acquires Five Freshwater Wells

Source: www.gulfoilandgas.com 5/8/2014, Location: North America

Citadel Energy Services, LLC has acquired five commercial freshwater wells in McKenzie County, North Dakota. All five of these freshwater wells are located in one of the busiest counties of the Bakken Shale for oil drilling activity, and adds to the company’s existing water supply available for drilling operations to oil and gas companies in the region. Terms were not disclosed.

Stanton Dodson, Executive Chairman of Citadel Energy, commented, “The acquisition of these five freshwater sites is a strong addition to our existing ability to provide ready supply to our clients. These sites extend our reach outside the Fort Berthold Indian Reservation about 40 miles to the West with existing water supply for E&P partners drilling in McKenzie County. Very little infrastructure is needed on Citadel’s part and these sites will immediately add to our bottom line.”

The company has seven Saltwater Disposal facilities under development with the first set to become operational this month, the Pembroke SWD, outside Watford City, N.D. With plans to open more Saltwater Disposal facilities along with the addition of freshwater depots, Citadel Energy has created a stronghold in the Bakken Shale region in providing fluid management services to the oil and gas companies operating in North Dakota.

Dodson continues, “We’re taking the lead in making sure the region’s oilfield water and waste infrastructure keeps pace with industry needs. Acquisitions like this one are a critical part of the company’s commitment to raising service expectations for oilfield waste management in the nation’s most active resource plays.”



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