Savage to acquire Ft. Worth Pipe, expand shale play services

Savage has signed a definitive purchase agreement to acquire Ft. Worth Pipe Services L.P., which provides pipe storage, transloading, trucking and other services to oilfield customers in the Permian Basin, and Barnett and Marcellus shales.

The acquisition, which is subject to customary closing conditions, is expected to be completed by June 30.

Ft. Worth Pipe Services' capabilities complement Savage's crude-by-rail transloading and other oilfield logistics services, Savage officials said in a press release.

"By adding Ft. Worth Pipe's network of pipe storage yards, located in the heart of multiple shale plays, Savage will expand the services it offers oil and gas customers," they said.

In connection with the acquisition, Savage plans to commission a pipe transloading facility adjacent to the Savage Bakken Petroleum Services Hub near Trenton, N.D. The facility will provide storage, transloading, trucking, threading and other services to oil and gas producers in the Williston Basin, Savage officials said.