Chieftain Sand and Proppant Gets Capital Investor
- Published: Wednesday, 15 August 2012 17:35
Energy Capital Partners announced the completion of a recapitalization of Chieftain Sand and Proppant, LLC. Chieftain Sand is a growing producer of frac sand that meets strict technical specifications for use in the oil and gas industry.
The growing demand for frac sand is driven by technology advancements in the hydraulic fracturing process that allows hydrocarbon extraction from formations where oil and gas exists but previously could not be brought economically to the surface, including the Eagle Ford Shale, the Bakken, as well as new strata in the Permian Basin and other established fields. The majority of all domestic oil and gas drilling and development utilizes frac sand, and it is also used to improve recoveries in existing producing wells.
Chieftain Sand owns and operates two frac sand production plants in Wisconsin and Arkansas. The company recently commissioned its new production facility in western Wisconsin where the geologic resource yields the highest grade and most favorable particle size distribution for the specific frac sand products needed for oil and liquids-rich production.
"We are excited to become Chieftain Sand's capital partner and fund its proven ability to serve the exacting and demanding requirements of the supply chains of the largest oil field services companies with the highest quality product and low-cost logistics capabilities,” said Energy Capital Partner's Nazar Massouh.
“Our partnership with Energy Capital will provide Chieftain Sand with access to capital and a long-term strategic partner who can support our growth plan,” commented David Hanson, Chieftain Sand's CEO.