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SECURE Energy Services Announces Closing of Strategic Acquisition
SECURE Energy Services Announces Closing of Strategic Acquisition SECURE Energy Se...
About this update from Secure Waste Infrastructure Corp.
[{"type":"text","content":"\n\n\n\nSECURE Energy Services Announces Closing of Strategic Acquisition\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 Announces Closing of Strategic Acquisition\nCanada NewsWire\nCALGARY, June 1, 2016\n\n\n\nCALGARY, June 1, 2016 /CNW/ - Secure Energy Services Inc. (\"Secure\" or the \"Corporation\") (TSX – SES) is pleased to announce today that it has completed the previously announced acquisition of the operating assets (excluding working capital) of PetroLama Energy Canada Inc. (\"PetroLama\") for an aggregate purchase price of approximately $53.5 million, subject to any post-closing adjustments. The purchase price at closing was paid with $47.6 million in cash and the issuance of 664,972 common shares of Secure valued at $8.85 per share. Secure also purchased PetroLama's inventory on hand at closing. \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 marketing, produced and waste water disposal, oilfield waste processing, landfill disposal, and oil purchase/resale service.  Secure currently operates a network of facilities throughout Western Canada and in North Dakota, providing these services at its full service terminals (\"FST\"), landfills, stand-alone water disposal facilities (\"SWD\") and full service rai...