HOUSTON, Aug. 2, 2007 (PRIME NEWSWIRE) -- Stallion Oilfield Services Ltd. announced today its entrance into the production services market with the acquisitions of the assets of Patriot Liquid Services (Ft. Worth Basin), Bayou Tank Services (East Texas), and Salty's (East Texas and Ft. Worth Basin).
"Patriot, Bayou Tank and Salty's are all market leaders in the fluids handling and logistics business and operate primarily in the active Barnett Shale area and East Texas oilfields," said Craig Johnson, president and chief executive officer of Stallion. "We are excited to be offering our customers yet another essential wellsite service. Under the name Stallion Production Services, we now provide frac tank rental, vacuum truck services, water hauling and fluid logistics. With the addition of these high quality operations and strategic assets, we can now provide our customers full turn-key fluid logistics solutions from drilling, completion and, now, through the production life-cycle of their wellsite operations."
The Company's production services resources include over 1,700 frac tanks, 150 vacuum trucks and 10 disposal wells strategically located in the Ft. Worth Basin and East Texas fields with a permitted disposal capacity in excess of 190,000 barrels per day. Stallion will retain the experienced management team of all three companies and integrate their service offerings to provide enhanced market and service coverage. Stallion has already invested in additional equipment for the new division and has plans for further expansion.
"Significant amounts of water are used in the completion and hydraulic fracturing of horizontal wells. Moreover, flowback and residual saltwater is produced by the wells in the Ft. Worth Basin and other unconventional natural gas basins including East Texas," remarked Hill Dishman, chief operating officer of Stallion. "With the millions of gallons of water being used, fluid logistics and disposal capacity are critical issues to operators in the Ft. Worth Basin. We hope to satisfy this crucial demand of our customers through our production services division resources. Stallion Production Services gives customers yet another reason to call us for logistics solutions at the wellsite."
About Stallion
Stallion Oilfield Services Ltd. provides wellsite support services and production & logistics services to the oilfield with 2,400 employees in 55 locations. Our range of critical wellsite services includes onshore and offshore workforce accommodations and remote camp complexes, surface rental equipment, solids control, communication services, wellsite construction, rig relocation, heavy equipment hauling and fluids handling and logistics. Stallion's Everything but the Rig(sm) product offerings are designed to improve living and working conditions, safety, and our customers' productivity at the wellsite. Stallion is headquartered in Houston, Texas and delivers products and services in the South Texas, Gulf Coast, Ark-La-Tex, Ft. Worth Basin, Permian Basin, Mid-Continent, Alaska's Prudhoe Bay and Rocky Mountain regions as well as to the global offshore industry.
Please find additional information at the Company's web site: www.stallionoilfield.com