Strategic investment will accelerate deployment of Altara’s proprietary H2S treatment and compression solutions for sour oil and water production in the Permian Basin
ROGERS, Ark. & MIDLAND, Texas–(BUSINESS WIRE)–Altara, LLC (“Altara” or the “Company”), a provider of proprietary mechanical solutions for H2S removal from sour oil and water production, has announced a growth capital investment and equity commitment from Black Bay Partners (“Black Bay”), a private equity firm with significant experience deploying tailored solutions for the removal of H2S from sour oil, gas, and water production. This represents another partnership between Black Bay and Floyd Hammond, the Founder and CEO of Altara (and Black Bay Strategic Advisory Board member). Black Bay’s growth investment will enable the Company to rapidly increase the production of Altara’s suite of sour-treatment service solutions – the VIDARR™ tower for sour oil treatment, the THOR™ tower for sour water treatment, and next-generation sour-rated rotary screw electric compression units.
“Altara provides unique solutions to solve H2S problems for oil & gas producers – all based on our team’s significant experience operating in sour environments. We deliver economically superior mechanical systems to remove H2S from produced oil and water, unlocking critical reserves and improving operating costs for producers. Additionally, our sour-rated rotary screw compressor fleet leverages remote operating capabilities to provide safe and effective handling of sour gas in support of our oil and water treatment towers, as well as standalone installations. Our team is looking forward to capitalizing on this rapidly growing market opportunity through our partnership with Black Bay,” said Floyd Hammond, CEO of Altara.
“Altara solves complex treatment issues by simplifying facility operations and giving producers an “easy button” for dealing with H2S. The need for sour-rated equipment and services is rapidly growing, and Black Bay is excited to tackle the opportunity with the Altara team,” said Tom Ambrose, Partner at Black Bay. “Black Bay is thrilled to partner with Floyd and the Altara team. The combination of the team’s sour-asset operating experience, innovative approach to process design and engineering, and an ever-growing need for upstream and midstream H2S treatment solutions presents a very exciting opportunity for Black Bay,” added Sam Scofield, Principal at Black Bay.
About Altara
Altara, LLC is an oilfield engineering and equipment company specializing in mechanical H2S removal and emissions control systems. Our team combines process design expertise with real-world operating experience — helping clients cut OPEX and simplify facility operations. Altara was founded by Floyd Hammond and is a portfolio company of Black Bay Partners. https://www.altaraservices.com/.
About Black Bay
Black Bay Partners is a private equity firm focused on investing in innovative, high-growth businesses within the energy industry and related industrial and chemicals sectors. Black Bay has raised over $850 million in cumulative capital commitments across three institutional funds and has offices in New Orleans and New York City. For more information, please visit www.blackbaypartners.com.
Contacts
CEO Floyd Hammond
[email protected]
