OTL-UPT acquires Castle Creek Energy
Apr 1, 2008 12:00 PM
Oklahoma Tank Lines/United Petroleum Transports has acquired the assets and operations of Castle Creek Energy LLC based in Shreveport LA, according to Greg Price, OTL-UPT president and chief executive officer. A purchase price was not disclosed.
“Castle Creek (formerly Hydro-Walk Energy) has long been a well-respected fuel transporter primarily in northern Louisiana and east Texas. We view this as a tremendous opportunity for us to geographically expand our area of operation and to better serve our customers,” said Price.
The 95 drivers and support staff will join OTL-UPT, boosting its payroll to more than 800 employees in six states. Additionally, the company will add Castle Creek's 81 tractor-trailers to its fleet of 460-plus units.
Alan Leach, former manager of Castle Creek Energy, will be responsible for the Louisiana operations. While OTL will gain some new customers, many of the clients are already shared customers of both companies, Leach said.
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