CRI News in the Community

01/09/08 | CRI ADDS STATE-OF-THE-ART FLEET MANAGEMENT SYSTEM

Hobbs, NM - Controlled Recovery, Inc. (CRI) announced today that it has purchased and installed a new fleet management solution system for its closed-loop fleet of vehicles.  The all-satellite based system is a real-time tracking and management tool that will enable CRI to better respond to its customer's needs and requests.

The system includes a high-speed Iridium satellite communications network along with a GPS receiver.  In addition to enhancing CRI's customer service, the new system will be a valuable tool used to improve the scheduling and dispatching functions, as well.

10/15/07 | CRI Welcomes New Associates

Controlled Recovery, Inc. is excited to announce two key additions to its management team at its Corporate Headquarters in Hobbs.  Jason Rice joins us as Director of Transportation.  He brings 13 years of experience to the job and most recently served as Director of Transportation for Caprock Pipe and Supply.  He will be tasked with ensuring that CRI delivers its customers unparalleled customer service. 

Les Elliott joins us from National Oilwell, where he worked for the past 11 years.   Les will be responsible for Customer Account Management and Sales.  

08/08/07 | Livestock Show Donations

This year CRI provided add-on donations to every livestock sale made during the 67th Annual Lea County Livestock show held at the Lea County Fairgrounds, August 4th -11th.  CRI was proud to sponsor all of the local area youngsters who participated and we congratulate them on all their hard work. 

12/11/06 | Acquisition by Atreides Capital, LLC and Blue Sage Capital, LP

DECEMBER 11, 2006 – Atreides Capital, LLC and Blue Sage Capital, LP are pleased to announce the acquisition of Controlled Recovery, Inc., Hobbs, NM, the leading provider of oil and gas waste management in the Permian Basin. Terms of the transaction were not disclosed.

Controlled Recovery is engaged primarily in the disposal, remediation and reclamation of wastes associated with the exploration, production and processing of crude oil, natural gas, and geothermal energy. The Company owns and operates a 284-acre waste disposal, treatment and recycling facility in Lea County, NM. Disposal methods at the facility include landfills, evaporation ponds, and a landfarm operation. Additionally, the company offers “closed loop” systems which capture waste at the drill site in containers, dramatically reducing the possibility of exploration and production wastes contaminating the environment, livestock or wildlife, or groundwater. Through a proprietary process, Controlled Recovery also reclaims hydrocarbons from waste streams brought to its facility in order to efficiently capture usable materials from others’ waste.

“We believe that Controlled Recovery is uniquely positioned to take advantage of the increasing demand for environmental services to the oil and gas industry,” said Bo Baskin, managing member and co-founder of Blue Sage Capital. “Controlled Recovery has an environmentally sound and efficient approach to the processing and disposal of oilfield and oilfield related waste, and we believe that customers are increasingly considering closed loop systems to reduce their environmental risk and liability.”

Atreides was attracted to Controlled Recovery for a variety of reasons, according to Wayne Patterson, President of Atreides Capital, including a belief that the U.S. energy market is positioned for robust and consistent growth. “With a breadth of service offerings and an excellent history of compliance, Controlled Recovery offers a platform for providing additional environmental services to the petroleum industry,” said Patterson. Mr. Patterson will serve as Chairman of Controlled Recovery and will work closely with the Company and its existing management to add additional services and to expand geographically.

About Atreides Capital – Based in Houston, Texas, Atreides Capital is a private equity firm specialized in the operation of smaller mid-market companies. Atreides focuses on growth areas within the environmental, energy, manufacturing, and distribution industries. Atreides Capital was founded with a focused goal of building value through acquisitions. Atreides professionals bring extensive operating and financial experience and a broad network of relationships to achieve significant returns for its investors. Atreides Capital works with both strategic sellers and individual owners to execute transactions that range from corporate divestitures, to public-to-private, to recapitalizations, and to sales for estate or other reasons.

About Blue Sage Capital – Blue Sage Capital is a private equity firm specializing in growth, recapitalization and buyout financings of middle market companies based in the Southwest. The investment focus for Blue Sage is in established, profitable companies with $5 – 100 million in revenues and $2 – 8 million in cash flow. Blue Sage Capital is headquartered in Austin, TX and has an Albuquerque, NM office managed by Beverly Bendicksen.

“We are pleased to have invested in a New Mexico business and look forward to contributing to Controlled Recovery’s continued success”, said Beverly Bendicksen, Director and Special Limited Partner of Blue Sage Capital.


For more information, please visit: www.atreidescapital.com, www.bluesage.com, or www.crihobbs.com.

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