Shale Support LLC, a provider of frac-sands and logistical solutions to the oil and gas proppant market, has closed a senior debt facility in the amount of $85 million with Deutsche Bank. Proceeds from the facility will be used 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.
"The closing represents a significant step in the right direction for Shale Support," said Kevin Bowen, co-founder and CEO. "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. We’ll continue our efforts to drive costs down no matter the market outlook."
Shale Support LLC has more than 100 million tons of frac-sand reserves within its mining properties and unit train logistics origination capabilities from its processing facility located in Picayune, MS. Shale Support owns Southton Rail Yard, one of the largest unit train capable transloading facilities in the Eagle Ford shale.