Houston-based OFS Energy Fund II has completed a growth equity investment in Buckhorn Energy Services LLC, a recently formed provider of oilfield waste disposal in North Dakota. Buckhorn’s headquarters will be located in Denver, Colo. Buckhorn was established in mid-2011 by Gary Ebel (CEO), Michael Hidalgo (CFO), and Corby Robertson III (chairman) to capitalize on the substantial growth of oil-focused drilling and production and resulting waste disposal needs in the region.
“Buckhorn has demonstrated a unique ability to tailor its product and service offerings to answer the rapidly expanding customer demands in a unique – and seasonally harsh – operating environment in North Dakota.” said Bruce Ross, managing partner of OFS. “With a knowledgeable and experienced management team and strong customer relationships, we feel that Buckhorn is poised for substantial growth. Initially, the company is well positioned to support the rapidly growing demand for saltwater disposal services in the Bakken shale region, however, the management team will soon focus on opportunistic expansion into other shale basins.”
Ross has joined the board of directors for Buckhorn, which consists of seasoned energy executives.
“OFS’s capital injection as well as the benefit of its industry relationships and board-level participation will provide us with additional support as we attempt to grow and adapt to best meet the growing demand from our expanding client base.” Robertson said.
OFS is a private equity firm specializing in acquisitions and recapitalizations of middle-market companies with enterprise values between $10 million and $50 million in the energy service industry. The management team of OFS previously managed Dorado Energy Partners.