Texas-based Galenfeha Inc. announced Dec. 26 it signed an agreement to acquire all assets and operations of Frontier Oilfield Services Inc.
In exchange, Galenfeha will issue one share of preferred stock for each share of common stock of Frontier, which is around 15 million shares.
Frontier, which was founded in 1995, is engaged in the disposal of saltwater and other oilfield fluids. It owns and operates eight disposal wells in the Barnett shale region and east Texas.
Its oilfield services also include hydraulic fracturing fluid recovery and disposal, and saltwater disposal well schematic.