Hydro Recovery LP, a leading provider of wastewater treatment and management services to the natural gas industry, today announced that it has been recognized as the 2013 Water Management Company of the Year by the Northeast Oil & Gas organization, an industry group dedicated to fostering advances in environmental stewardship, innovation, corporate social responsibility and health and safety across the oil and gas industry.
During the second annual Northeast Oil and Gas Awards Gala held in Pittsburgh on March 20, Hydro Recovery LP was recognized for its clean, safe and efficient water handling, treatment and disposal of wastewater used in natural gas exploration. According to the judges' panel, Hydro Recovery LP, "exemplifies the judging criteria of safe, clean and efficient water handling, treatment and disposal while accomplishing conscientious water use and the minimization of environmental impacts. As the original permittee of Pennsylvania's waste management permit - which set treatment standards for centralized treatment facilities - Hydro Recovery is very involved externally, serving as a liaison between industry and governmental regulators and the company's clients."
Chris Wunz, chief operating officer of Hydro Recovery LP, said the company was "honored to receive such a prestigious award on behalf of the owners and its hard-working employees, who have played a significant role in achieving the successes cited by the judges' panel."
"Since the company first began operations in June of 2011 we have endeavored to meet ever-changing industry needs in an environmentally responsible manner by working across the industry to help address important issues," he added.
Hydro Recovery LP's portfolio of solutions include:
Centralized storage solutions for clients to reduce their need to store water within in-ground impoundments or hundreds of "frac tanks" sitting in multiple locations, thereby reducing environmental liability;
Disposal through recycling options with no surface discharge. Instead, Hydro Recovery provides treated water brought in for disposal to other active operators for reuse;
High solids liquid waste treatment and reclamation of entrained water for reuse, which is a more economic and environmentally responsible solution than bulking for disposal at landfills; and
Logistics and inventory management service in which Hydro provides the transportation and treatment for reuse or disposal through recycling.
"This Award validates our company's core beliefs and demonstrates our growing leadership in the industry," Wunz said. "Our continued success will be driven by our continued ability to grow and be innovative."
Hydro Recovery Prepares for Expansion Under Reorganized Ownership
After making the award announcement, Wunz went on to announce that private investment firm Shaner Capital L.P. has acquired the shares of the family-owned business DALK Land LP, founded by Neil Hedrick, who originally formed Hydro Recovery in 2008.
"Over the past few years, there have been significant changes within the natural gas industry and Hydro Recovery continues to innovate to meet those needs," said Eddie Lauth, President and CEO of Shaner Capital L.P. "The change in ownership and investment by Shaner Capital L.P. will open up new opportunities for the company to continue its innovation and expansion across the state in places such as Washington, Bradford, Susquehanna and Elk counties."
Shaner Capital L.P. is a private investment fund formed by Lance T. Shaner, CEO of The Shaner Group, in 2010. The objective of Shaner Capital L.P. is to help well-run, innovative companies grow and expand their businesses. Shaner Capital L.P. holds controlling interests in numerous energy-related operating companies. Shaner also founded PennTex Resources in 1996, which later became Rex Energy, and served as Chairman and CEO of the company until 2007. Mr. Shaner continues to serve as Chairman of the Board of Rex Energy.
For more information on the Northeast Oil and Gas organization and its awards program, visit www.oilandgasawards.com.