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Saturday, November 26, 2011

Shaner Invests In Recycling Drilling Wastewater

Shaner invests in facilities

By Cliff White
Centre Daily Times

Centre County’s gas magnate, Lance Shaner, has doubled down his bet on the Marcellus Shale.

Shaner, the co-founder and chairman of the board of Rex Energy and president and CEO of Shaner Hotels, both State College-based companies, has invested in Hydro Recovery, which operates water treatment facilities servicing the gas industry.

Shaner Capital, a $20 million investment fund created in 2010, will assist Hydro Recovery in fulfilling its aggressive expansion plans. The company has wastewater recycling facilities in Blossburg, Tioga County, and Antrim, Franklin County, that supply acid mine drainage water to gas companies for use in hydrofracturing.

As drilling ramps up throughout the commonwealth, Hydro Recovery has looked to meet the expanding need for its services by planning two more facilities, in Lawrence Township, Clearfield County, and Towanda, Bradford County. It is looking into building plants in Belle Vernon, Washington County, and locally in Snow Shoe, according to Teresa Irvin Copenhaver, HydroRecovery’s business development manager. More...

1 comment :

Anonymous said...

He better watch out the tree huggers/ anti job people will be all over this!