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Ace Gathering acquires Recoil Energy Systems

EBR Staff Writer Published 07 March 2018

Ace Gathering has completed the acquisition of crude oil reclamation services provider, Recoil Energy Systems, for undisclosed amount.

Recoil, founded in 2014 and headquartered in Abilene, Texas, is a leading provider of oil reclamation services including tank cleaning, oil recovery, oilfield waste fluid handling and disposal services throughout the Permian Basin for salt water disposal wells, crude oil production tanks and pipelines. Additional information on Recoil’s offerings can be found at www.recoilenergy.com.

“We are very excited about the opportunity to join the Ace team and look forward to supporting the company’s rapid growth throughout Texas and surrounding states. Recoil’s broad service coverage in the Permian Basin alongside Ace Gathering’s rapidly growing gathering system creates an unmatched offering in the region,” said Abe Templeton, founder and General Manager of Recoil.

“The management team at Ace is excited to team up with a leading reclamation provider in the Permian Basin. Recoil’s reclamation facility located southeast of Midland immediately expands our footprint alongside our newly launched reclamation facility located on the southwest side of Odessa. The combination allows us to capitalize on immediate opportunities and continue our rapid expansion,” said Mike Clinard, Chairman and CEO of Ace. Cody Schluens, President and COO of Ace, added, “We are thrilled about our partnership with Recoil and what this means for the future of the company as we expand our capabilities to service existing and prospective customers in new areas.”

Source: Company Press Release