Milestone Environmental Services, LLC (“Milestone”), a portfolio company of Intervale Capital and one of the largest independent providers of oilfield waste disposal services in the U.S., announced today that the New Mexico Oil Conservation Division (“NMOCD”) has approved the company’s permit for an oilfield waste slurry injection facility in Lea County. Milestone’s planned Battle Axe Facility, the first of its kind permitted in New Mexico, required multiple permits from the NMOCD, including a permit to inject oilfield waste and a solid waste management permit. These permits mark Milestone’s first move into the New Mexico side of the Permian Basin, the heart of the most prolific oil and gas production basin in the United States.
Milestone’s proprietary slurry injection process is both an economically efficient and environmentally superior method for oilfield waste disposal. Using this process, Milestone captures drilling, completion, and production waste and reinjects it back into the earth through a network of facilities located throughout the Permian Basin and the Eagle Ford Shale. The reinjection of hydrocarbon-contaminated waste is a form of permanent carbon sequestration, and thus materially reduces the carbon footprint of oil and gas operations. In addition to reducing carbon footprint, Milestone’s disposal methods enable E&P operators to avoid soil and groundwater contamination risks associated with onsite disposal methods that dispose of waste above the water table.
The permitted location is on Highway 128 near Battle Axe Road, in the Delaware Basin, providing New Mexico operators with the opportunity to dispose of oilfield waste liquids using this carbon negative and environmentally advanced solution.
“Milestone is proud to partner with the State of New Mexico and the petroleum industry to provide our carbon-negative disposal solution to oil and gas operators in the state,” said Milestone President and CEO Gabriel Rio. “In the severely depressed 2020 energy environment, our customers have an urgent need to simultaneously reduce their costs while working to reduce the environmental impact of their operations. Milestone is proud to be part of the answer to both challenges.”
“Intervale commends the Milestone team for its years of development efforts coming to fruition with the approval of this permit,” noted Patrick Connelly, Partner at Intervale Capital. “This site offers an environmentally superior waste disposal solution to producers operating in New Mexico. We are excited to partner with Milestone as it continues expanding its unrivaled network of patented slurry injection facilities.”
Intervale Capital is a middle market private equity firm that invests in and builds market leaders in the energy and infrastructure products and services sector. The firm operates from offices in Houston and Boston, and has raised $1.3 billion of committed capital since its inception in 2006.
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