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Aquatech Buys Fluid Recovery Services, Adding Shale Areas

May 13 (Bloomberg) -- Aquatech International Corp., a Pennsylvania-based water purification company, bought Fluid Recovery Services to expand treatment services to oil and natural gas producers in the Marcellus and Utica shale regions. Terms weren’t disclosed.

“Aquatech’s goal is to be the leader in oil and gas water management,” Venkee Sharma, chief executive officer of the closely held company, said in a statement today. “The acquisition of FRS represents significant progress towards achieving our vision.”

Oil and gas producers inject a mixture of water, chemicals and sand into shale rock to get access to the fuel, in a process known as hydraulic fracturing. Environmentalists say fracking can harm drinking water supplies.

Aquatech, based in Canonsburg, Pennsylvania, processes almost 1 million barrels of produced water daily. Fluid Recovery Services, based in Creekside, Pennsylvania, can treat, store, transport and dispose of water from oil and gas operations, according to the statement.

To contact the reporter on this story: David Wethe in Houston at dwethe@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

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