Ace Gathering Holdings LLC announced that it has completed its acquisition of Recoil Energy Systems LLC, a provider of crude oil reclamation services.
Recoil, founded in 2014 and headquartered in Abilene TX 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,” said Abe Templeton, founder and General Manager of Recoil. “Recoil’s broad service coverage in the Permian Basin alongside Ace Gathering’s rapidly growing gathering system creates an unmatched offering in the region.”
Mike Clinard, chairman and chief executive officer of Ace, said: “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.”