HOUSTON–(BUSINESS WIRE)–American Disposal Services (“ADS”) – a regional industry leader in the disposal of injectable oilfield waste – announced today that it is changing its corporate name to Milestone Environmental Services, LLC (“Milestone”, or the “Company”). The name change reflects the services, vision, and values of the Company. Milestone accepts oilfield waste streams and injects them over a mile below the earth’s surface, where they are safely sequestered beneath multiple confining layers of stone. The new name also marks the growth of the company from a regional disposal provider to a national oilfield environmental services provider with its planned 2016 expansion. Milestone is recognized for its expertise in driving innovations to shape the future of environmentally sustainable disposal of non-hazardous injectable oilfield waste, including drilling muds/fluids, tank bottoms, completion fluids and produced saltwater.
Gabriel J. Rio, President and Chief Executive Officer of Milestone Environmental Services, states, “Milestone is in business to safely enable North American E&P operators to produce vital energy resources in an environmentally sustainable manner. We hold ourselves to a high standard, and that has made us the leader in the industry. Our new name reflects our commitment to offering excellent customer service that is innovative, cost effective, and environmentally minded.”
In 2016, Milestone plans to construct multiple new facilities in major US E&P basins. These new facilities join five existing locations in South and East Texas, where Milestone has been a premium provider of injectable oilfield waste disposal, operating for more than 20 years.
Milestone is an industry-leading innovator and one of the first companies in the U.S. to commercially use slurry injection, a process that has set new standards for efficiency and environmental security for managing oilfield wastes. Milestone is backed by Intervale Capital, a private equity firm investing exclusively in oilfield manufacturing and service companies.
About Milestone Environmental Services:
Milestone is a national oilfield environmental services provider with an environmentally focused, cost-effective, and efficient approach to managing oilfield waste. Milestone operates strategically located, state-of-the-art disposal facilities that provide dependable, local services for leading U.S. oil and gas operators. The Company is headquartered in Houston, Texas, and currently has five injection locations in Texas. www.milestone-es.com
About Intervale Capital:
Intervale Capital is an energy-focused private equity firm with offices in Houston and Boston. Intervale invests primarily in middle-market oilfield services and manufacturing companies and related technologies. The firm has raised $1.3 billion of committed capital since its inception in 2006 and is currently investing from its third fund. www.intervalecapital.com