Exterran Holdings, Inc. to Acquire EMIT Water Discharge Technology, LLCadmin
Saturday, August 2nd 2008
Exterran Holdings, Inc. has recently posted a report saying that it has acquired EMIT Water Discharge Technology, LLC (“EMIT”), a leading provider of contract water management and processing services to the coal bed methane industry, for approximately $108 million, subject to certain post-closing adjustments to be determined. Based in Sheridan, Wyoming, EMIT provides cost-effective processing services to remove salts and other dissolved solids from water associated with the production of natural gas from coal beds.
Bob Despain, Chief Executive Officer of EMIT, said, “We are excited to be a part of Exterran and are looking forward to taking advantage of the opportunities that Exterran’s expanded reach and customer relationships provide us. We believe this transaction will have a positive impact on our customers, our employees and the communities we serve.”
“We are very pleased that an outstanding group of EMIT employees will be joining the Exterran team,” said Stephen A. Snider, Exterran’s President and Chief Executive Officer. “EMIT is an excellent addition to our contract operations business and highly complementary to our existing compression, production and processing product lines. We will continue to provide the quality service that EMIT’s existing customers have relied upon in their coal bed methane operations in the western United States and will also seek to expand these advantageous water processing services into other applicable oil and gas markets throughout the world.”
Exterran Holdings, Inc. is a global market leader in full service natural gas compression and a premier provider of operations, maintenance, service and equipment for oil and gas production, processing and transportation applications. Exterran Holdings serves customers across the energy spectrum—from producers to transporters to processors to storage owners. Headquartered in Houston, Texas, Exterran and its over 10,000 employees have operations in more than 30 countries.
Exterran Holdings, Inc. Investors: David Oatman, 281-836-7035 or Media: Pat (Patricia) Wente, 281-836-7308 or
Rick Goins, 281-836-7289
Source: Exterran Holdings, Inc.