DALLAS, Texas -- Frontier Oilfield Services Inc. said it has executed an agreement to acquire the assets of L&R Tank Trucks Inc. and Stark and Stark Equipment Inc. of Bowie, Texas, for $10.3 million.
Tim P. Burroughs, president of Frontier Oilfield Services, said: “The acquisition of L&R Tank Trucks and Stark and Stark Equipment expands Frontier's presence in the liquids-rich Northern Barnett Shale, complements our recent acquisition of Coffman Tank Trucks located in Chico, Texas, and increases our strategic relationships with other major exploration and production companies.
“Frontier continues to seek out and explore commercial salt water recovery and disposal opportunities for expansion in both the Permian Basin in West Texas and the fast developing Eagle Ford formation in South Texas.’’
Founded in 1989, L&R Tank Trucks provides completion and production water solutions for exploration and production companies. It is headquartered in Bowie and operates in the Northern Barnett Shale performing vacuum and pump truck services, commercial disposal services and fracturing tank rental on a 24-hour basis.
L&R owns and operates four commercial saltwater disposal wells and an approved permit for a fifth well. The company primarily disposes of saltwater that it hauls from producing well sites, although the company does allow third parties to dispose in its wells for a fee. The company completed a new commercial disposal well in the fall of 2011 that is permitted for 20,000 barrels a day. L&R has an agreement in place with its largest customer to pipe water from their well sites to the disposal well.
L&R operates 12 tractors, 12 trailers, three bobtails, one pump truck and 10 shale fracturing tanks.
Frontier Oilfield Services focuses primarily on waste-water recovery and disposal. The company has two additional wholly owned subsidiaries, Trinity Disposal and Trucking in Waskom, Texas, and Coffman Tank Trucks of Chico, Texas.