WM Energy Services acquires Petro Waste Environmental

WM Energy Services Holdings LLC, an indirect subsidiary of Houston-based Waste Management Inc., announced the acquisition of Petro Waste Environmental from Tailwater Capital on March 11. Petro Waste Environmental is a provider of oilfield environmental services and solid waste disposal serving the Permian Basin and Eagle Ford Shale Play, which are the most economically active oil and gas producing regions in the U.S.

With its oilfield solid waste disposal solutions, waste-handling capabilities and conveniently located disposal sites catering to the oil and gas industry, the addition of Petro Waste Environmental to the Waste Management Energy Services portfolio greatly enhances the company’s offerings, the company says. Waste Management now has a strong presence in the Permian Basin with multiple disposal sites in West Texas and an expanding footprint in the Eagle Ford Shale Play with one disposal facility currently under construction and a second permitted in South Texas.

“This acquisition expands Waste Management Energy Services’ business to provide superior and differentiated solid waste disposal services to oil and gas producing customers operating in Texas,” Waste Management Four Corners Area Vice President Scott Bradley says. “By leveraging Petro Waste’s extensive footprint and scale, core competencies, state-of-the-art disposal facilities and robust customer base, we expect to generate momentum for significant and sustainable business growth.”

“We are very proud of the platform we’ve built and appreciate the hard work from our dedicated team members,” George Wommack, CEO of Petro Waste Environmental, says. “We are excited to be selling to the best company in the industry and couldn’t be happier our employees will have the opportunity to advance their careers with Waste Management.”

“Waste Management welcomes the Petro Waste employees to our family and will continue to deliver safe, reliable services to the energy industry,” Bradley says.

London-based Barclays acted as financial advisor and Dallas-based Thompsonand Knight LLP provided legal counsel to Petro Waste on the transaction. Tudor, Pickering, Holt & Co., Houston, acted as financial advisor and StinsonLeonard Street, Kansas City, provided legal counsel to Waste Management.