Environmental Drilling Solutions, LLC, (EDS), a leader in solids control, cuttings processing and zero discharge services, has received a growth equity investment from Element Partners and CSL Capital Management, announced EDS Chairman Kirby Arceneaux.
Element Partners is an energy and industrial technology-focused private equity fund, and CSL Capital Management is an energy-services private equity firm.
Under the continued the management of EDS, the two leading energy investment firms intend to drive advanced growth in the innovative drilling solids segment. Additional proceeds from the investment will be used to expand operations both onshore and offshore.
Based in Lafayette, La., EDS was formed in 2009 and has grown to become one of the leading solids control companies in North America. EDS serves top-tier oil and gas operators in Louisiana, Texas, Oklahoma, Wyoming, Pennsylvania, Ohio, West Virginia, and the Gulf of Mexico.
“We have experienced tremendous growth over the past two years, and are committed to building a world-class company,” said Arceneaux. “Element and CSL bring us the experience and resources that will help take EDS to the next level.”
“Solids control has been a focus in the offshore markets for decades, but the explosive growth of the U.S. shale plays has brought it quickly to the forefront for ‘best-practices’ in onshore drilling. We look forward to working with CSL and Element to capture this huge opportunity for our business,” said Chad Hollier, founder and President of EDS.
“EDS’ innovations in closed-loop solids control solutions provide extraordinary economic and environmental value for the oil & gas industry,” said David Lincoln, Managing Director at Element Partners. “We are truly excited to partner with EDS’ management team to continue their growth and expand their scope of services.”
“The EDS team has built a best-in-class service business that understands their customers’ needs and addresses them in a high value-add, low cost manner,” said John Griggs, Managing Director of CSL. “We at CSL specialize in the energy services space, and EDS is a true innovator in the field.”
Environmental Drilling Solutions (EDS), with headquarters in Lafayette, Louisiana, provides solids control services using its proprietary, patent-pending mobile and skid-mounted equipment in the Woodford, Granite Wash, Marcellus, Utica, Eagle Ford, Mississippi Lime, and Wolfberry; it is also increasing its presence in the Gulf of Mexico with innovative and safer techniques for collecting drill cuttings offshore.
EDS employs more than 250 trained staff members including experienced field service engineers to ensure professional installations and service to ensure trouble-free equipment and service to our customers. EDS also provides rig vacuum systems, storage tanks, pressure washers, and other related equipment and services.
SOURCE: Environmental Drilling Solutions, LLC, (EDS)