Janney Acted as Exclusive Financial Advisor on the $41.9 Million Sale of Clearwater Solutions to Nuverra Environmental Solutions

Nuverra Environmental Solutions, Inc. (NYSE: NES) announced that it has acquired Clearwater Solutions, a leading operator of saltwater disposal wells (SWDs) in the Marcellus and Utica Shale areas, for $41.9 million, subject to customary purchase price adjustments. 
 
This purchase more than doubles Nuverra's SWD capacity in the region and will add value for each of its customers with more strategically located disposal capacity. Clearwater's disposal wells at the Clearwater Three and Clearwater Five locations offer several offloading lanes and disposal capacity of 17,500 barrels per day. Its locations are in Guernsey County, Ohio, which is in the heart of the regional oil and gas activity.
 
Charlie Thompson, Interim Chief Executive Officer of Nuverra said, "The Clearwater acquisition significantly improves our competitive position in the Northeast marketplace due to the added capacity of the new wells and logistical advantages for our trucking business. Based on recent volume statistics, Nuverra will be the second largest commercial operator of SWDs in the region."
 
Janney Montgomery Scott LLC acted as exclusive Financial Advisor to Clearwater Solutions in this transaction.
 
Charlie Thompson, Interim Chief Executive Officer of Nuverra said, "The Clearwater acquisition significantly improves our competitive position in the Northeast marketplace due to the added capacity of the new wells and logistical advantages for our trucking business. Based on recent volume statistics, Nuverra will be the second largest commercial operator of SWDs in the region."
 

Contact us for more information

Joseph Reichert

Managing Director, Infrastructure

Read more from Joseph Reichert

For more information about Janney, please see Janney’s Relationship Summary (Form CRS) on www.janney.com/crs which details all material facts about the scope and terms of our relationship with you and any potential conflicts of interest.

To learn about the professional background, business practices, and conduct of FINRA member firms or their financial professionals, visit FINRA’s BrokerCheck website: http://brokercheck.finra.org/