Gravity Oilfield Services’ storage tanks are normally used as frac or mud tanks, but it has announced in an online statement that these are now available to producers for crude storage. The Houston-based water and energy infrastructure company is offering its inventory of crude oil storage tanks to operators in the Permian Basin, Eagle Ford and Haynesville plays.

Rob Rice, the company’s Chief Executive Officer and President, said: “We already own the tanks and as a result of the decline in their normal use for frac tanks, mud tanks, etc., we are making them available for crude oil storage to fill the immediate needs of our customers as other storage becomes unavailable.” 

In the last few weeks the company has already shipped out more than 1,000 tanks, and has another 4,000 more available for immediate shipment, Rice said. They are generally used for temporary storage of liquids, but are being made available to customers for long-term use.

Rice added: “Historically they have not been permanent, and we do not expect them to become permanent storage now. We do expect they could be used for at least 12 months. The highest demand to date has been in Oklahoma but we are seeing increasing demand in the Permian.”

In the statement announcing the availability of the tanks, Mike Sledge, Gravity’s Vice President, Sales, said: “We have successfully navigated distressed markets before, and we are committed to leveraging our best-in-class safety record and our fleet of tanks to help operators navigate this challenging market.”

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5th May 2020