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Enserco Purchases the Majority Interest in Frac Resources

Source: www.gulfoilandgas.com 1/22/2014, Location: North America

Enserco Midstream, LLC (“Enserco Midstream”) announced the purchase of a majority interest in Frac Resources, LLC (“Frac Resources”). Frac Resources is a Houston-based oil field service logistics company focused on frac sand storage and transloading. With terminals located in Laredo and near San Antonio, Texas, Frac Resources is one of the largest frac sand logistics and distribution companies in the Eagle Ford Shale, trans-loading over 750 million pounds of frac sand in 2013. In the Eagle Ford Shale, Frac Resources has over 20,000 tons of warehouse storage, with 350 rail car spaces of on-track storage in Laredo and is currently constructing 200 spaces with plans to construct up to 700 rail car spaces of on-track storage at its Mission Rail Park location. In the Permian Basin, Frac Resources plans to develop the Permian Rail Park located near Big Spring, Texas.

Frac Resources’ predecessor was founded three years ago by Frontier Logistics, LP, (“Frontier Logistics”) and Kyle Kinsel. Frontier Logistics, a diversified provider of supply chain management services to the plastics industry, will continue to serve as operator of Frac Resources’ terminals in Texas.

The acquisition of Frac Resources represents a natural extension of Enserco Midstream’s multi-commodity terminaling strategy. With combined terminal locations spanning Texas, North Dakota, Montana and Wyoming, Enserco Midstream and Frac Resources are on track to becoming a premier frac sand distribution network and service provider to pressure pumping and frac sand companies across North America.

“As the demand for frac sand grows with advancements in horizontal drilling, logistics and supply chain management become more critical to service companies and operators. The geographic location of our terminals in heart of North America’s most prolific shale plays, combined with direct connections to mainline rail service, provides our customers with ready access to reliable supplies of frac sand,” said Griff Jones, President and CEO of Twin Eagle Resource Management, LLC, the parent company of Enserco Midstream.

“The majority sale of Frac Resources to long-time industry veterans Chuck Watson, Griff Jones and the Enserco Midstream team provides a strong financial, geographic and strategic platform for future growth,” said George Cook, and Kyle Kinsel, principals of Frac Resources. “With the rapid demand growth of frac sand and other oil field services being observed today in the North American oil basins, we see this partnership as a key ingredient to the development and growth of Frac Resources.”

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