Fort Worth, Texas, February 16, 2018 – CIG Logistics announced today that it has acquired the SANDSTORM product suite from Propell Oilfield Equipment, a TYCROP company.
SANDSTORM is an innovative last mile frac sand logistics and well site storage solution that increases well-site efficiency, automation, capacity, safety and quality, while reducing transportation costs and environmental impact through its patented, gravity fed solution. CIG Logistics has combined SANDSTORM with its existing transload terminal footprint and proprietary PropLogistics software. With this acquisition, CIG Logistics is expanding its service offering to become a complete end-to-end logistics solution for its customer base of leading oil and natural gas exploration and production companies, oilfield services providers and proppant producers.
“We’ve worked closely with our customers to understand their needs and identify safe and efficient logistics solutions in the market to enhance their operations,” said Jonathan Green, CIG Logistics Chief Executive Officer. “We’re excited about the acquisition of the revolutionary SANDSTORM product offering and look forward to helping our customers further improve well-site efficiency and safety while reducing costs.”
Simmons and Company International, Energy Specialists of Piper Jaffray, worked as exclusive financial advisor to Propell and TYCROP on the transaction.
About CIG Logistics
CIG Logistics is an independent, growth-oriented provider of end-to-end proppant logistics solutions to leading oil and natural gas exploration and production companies, oilfield services providers and proppant producers. CIG’s infrastructure assets include more than a dozen strategically located proppant and well consumable transload terminals and associated bulk storage silos across the most active oil and natural gas basins in Texas, New Mexico, Oklahoma, Louisiana and California. Through CIG’s proprietary PropLogistics software, CIG is able to offer its customers real-time monitoring of their proppant supply chain. With the acquisition of SANDSTORM, CIG owns and operates a modular fleet of patented high-capacity last mile logistics trailers, and patented automated loading systems and mobile gravity fed containers used to store and deliver proppant at well sites.
Propell Oilfield Equipment (Propell) operates under its parent company TYCROP, a 40-year-old product creation company focused on innovative mobile industrial solutions to help customers in energy and transportation drive improved operational performance and safety. Propell, with three facilities across North America, is a leading provider of well stimulation and completion equipment technology and support for well service companies.