Central Environmental Oilfield Services Co Gets New “Owner”
Central Environmental Services, an oilfield services company servicing Marcellus and Utica Shale drillers with its headquarters in Washington, WV, announced yesterday they have a new owner–or perhaps a better way of putting it, a new majority investor. Harbert Private Equity Fund III, LP (“HPEF III”) announced yesterday they have purchased a majority interest in Central for an undisclosed sum. We don’t expect anything will change re management of the company. It just means Central has a new pile of money with which to expand their operations–along with someone watching over their shoulder.
The press release announcing the new majority investor/owner in Central Environmental Services:
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Each year the 3,200-member Ohio Oil and Gas Association (OOGA) issue the DeBrosse Memorial Report. The report is a high level look at where (and how much) drilling there has been in the state–and what they’re finding (methane, oil, NGLs). OOGA’s Peter MacKenzie presented the findings of the latest DeBrosse Report at last week’s OOGA Annual Winter Meeting in Columbus. According to MacKenzie, the data in this year’s report, “should get people’s attention,” saying it sure got his.
A little more than a year ago MDN editor Jim Willis developed a Supply Chain tutorial that was included in Vol. 3 of the