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August 25, 2014
17:14 EDTNESNuverra Environmental evaluating revised VeroLube proposal
Nuverra Environmental Solutions provided an update on the status of its previously announced agreement to divest Thermo Fluids. Nuverra has been informed by representatives of VeroLube USA and its financial advisor that VeroLube is proposing a reduction in the purchase price for TFI from the previously agreed total of $175M to a revised total purchase price of $145M. Nuverra was further informed that the proposed revised purchase price of $145M would include a stock component that may be greater than the previously agreed upon $10M. VeroLube has proposed a revised transaction closing date of September 30. VeroLube and its financial advisor informed Nuverra that they have finalized the debt component of their financing strategy, and believe they could finalize the equity component in the next several weeks. Nuverra is currently evaluating the revised VeroLube proposal. The exclusivity period with VeroLube, which prohibits Nuverra from negotiating with other interested parties, ends on August 29.
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November 25, 2014
10:10 EDTNESHigh option volume stocks
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07:05 EDTNESNuverra Environmental announces contract with XTO Energy for pipeline services
Nuverra Environmental (NES) announced that it has entered into a long-term definitive agreement with XTO Energy, a subsidiary of Exxon Mobil (XOM), to provide water-related pipeline services in McKenzie County, North Dakota. Under the agreement, Nuverra will build the 150-mile McKenzie County Pipeline Network to provide produced water gathering and disposal services and fresh water delivery. The XTO agreement is a long-term, fee-based gathering agreement. The Network will serve XTO's dedicated acreage, as well as other operator wells in the area. The Network will feature fixed, buried pipelines, which will include a gathering line to transport produced and flowback water for disposal or recycling and a distribution line for fresh water delivery. The Network is projected to cost $125M-$150M, based on current engineering and construction specifications, with completion during the fourth quarter of fiscal 2015. Construction is expected to begin in May 2015.

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