Picayune, Mississippi-based Shale Support LLC plans to move its headquarters to The Woodlands, and should be deciding on an office space any day now.
“That will allow them day-to-day access with the operators they’re already working with,” said a Shale Support spokesperson.
Shale Support provides logistical services and frac-sand, or “proppant” products, to enhance the recovery rates of hydrocarbon products from natural gas and crude oil wells. The Mississippi firm also owns Southton Rail Yard, a 300-acre dual rail-serve facility that transloads energy-related products for the Eagle Ford Shale Region, according to the company’s website.
The company currently has a total of 142 employees, and will move three or four employees to its Woodlands office to start, with plans to hire an additional 10 to 15 people locally.
For the new office, Shale Support is looking for space ranging between 5,000 and 8,000 square feet.
News of Shale Support’s headquarter move comes just as the company secured an $85 million senior debt facility from Deutsche Bank.
Shale Support plans to use the capital from Deutsche Bank to refinance existing debt and complete capital expenditure projects in the company’s mining and processing facilities and logistics locations in the Eagle Ford and Permian shale areas, according to a statement from the company.
“There is a continual need for operators to control costs at every level and by closing the loop between mining and logistical needs, we’re helping operators control their expenses,” said Kevin Bowen, co-founder and CEO at Shale Support, in a statement regarding the Deutsche Bank loan.
The Woodlands has become a hotbed for growth in Houston’s energy sector. Earlier this year, The Woodlands-based Huntsman Corp. (NYSE: HUN) said it was expanding its headquarters in the area. In April, Connecticut-based energy provider Crius Energy LLC bought The Woodlands-based TriEagle Energy LP for $19.1 million.