HOUSTON, TX —
Resilient Energy Inc. (OTC: RENI) announced that it signed a memorandum of understanding to acquire a privately held U.S. oilfield-services company founded in 2007.
The target provided logistics and operating services for the transportation of liquids, gases, oilfield equipment, and saltwater generated during oil and gas production. At the date of the release, the company reported strong revenue, profitable operations, more than 50 employees, and a customer base that included Fortune 500 energy operators.
Saltwater-disposal services manage produced water brought to the surface during drilling and production. The release described the U.S. saltwater-disposal market as exceeding $5 billion; that estimate was historical company commentary and is not current market guidance.
“This memorandum represents an important first step in building the operating company we envision for Resilient Energy. The target brings an experienced team, established customers, and essential capabilities that support day-to-day oilfield operations.”
Jon Bianco, Chief Executive Officer