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SECURE Energy Services Acquires 100% Ownership of Joint Venture Assets
SECURE Energy Services Acquires 100% Ownership of Joint Venture Assets SECURE Ener...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n\n\n\nSECURE Energy Services Acquires 100% Ownership of Joint Venture Assets\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nSECURE Energy Services Acquires 100% Ownership of Joint Venture Assets\nCanada NewsWire\nCALGARY, July 12, 2016\n\n\n\nCALGARY, July 12, 2016 /CNW/ - Secure Energy Services Inc. (\"Secure\" or the \"Corporation\") (TSX – SES) is pleased to announce today that it has completed the acquisition of the 50% interest in all of the Joint Venture assets of the La Glace and Judy Creek facilities (collectively, the \"Facilities\") previously held by the other joint venture participants, increasing Secure's interest in the related Facilities to 100% (the \"Acquisition\").    \n\nThe purchase price, including working capital, was $26.7 million which was funded through existing capacity under the Corporation's credit facility. The Acquisition relieves Secure of the administrative requirements of operating the Facilities under a joint venture structure, while adding additional cash flow from an increase in ownership in the Facilities. The Acquisition will not result in any operational changes to the Facilities.            \n\nABOUT SECURE ENERGY SERVICES INC. \n\nSecure is a TSX publicly traded energy services company that provides safe, innovative, efficient and environmentally responsible fluids and solids solutions to the oil and gas industry. The Corporation owns and operates midstream infrastructure and provides environmental services and innovative products to upstream oil and natural gas companies operating in western Canada and certain regions in the United States (\"U.S.\").  \n\nThe Corporation operates three divisions: \n\nProcessing, Recovery and Disposal Division (\"PRD\"): The PRD division owns and operates midstream infrastructure that provides processing, storing, shipping and marketing of crude oil, oilfield waste disposal and recycling. More specifically these services are clean oil terminalling and rail transloading, custom treating of crude oil, crude oil mark...