Iron Oak Energy Solutions announced the acquisition of all operating assets of Signal Peak Silica, marking the company’s fourth acquisition since its formation through the merger of Covia Energy and Black Mountain Sand in November 2024.
The acquisition strengthens Iron Oak Energy’s position as a major North American proppant supplier, increasing its exposure to the Anadarko and Eagle Ford basins. These regions are expected to benefit from ongoing drilling and completion activity driven by rising natural gas demand from data centers and LNG exports. Following the transaction, Iron Oak Energy will sell nearly 40 million tons of proppant annually from 15 active mining facilities.
Through the deal, Iron Oak adds two facilities in the Eagle Ford shale and now operates five plants in the basin. The expanded network enhances the company’s ability to provide reliable in-basin supply through its integrated distribution infrastructure and greater operational flexibility.
The acquisition also establishes Iron Oak as a leading in-basin supplier in Oklahoma’s Anadarko Basin. Signal Peak’s Oakwood and Dover facilities are strategically positioned to serve some of the region’s most active oil and gas producers.
Concurrently with the closing of the acquisition, Iron Oak entered into an amended term loan facility with GoldenTree Asset Management, Silver Point Capital, and other lenders. Jefferies served as sole placement agent for the financing, while Latham & Watkins acted as legal advisor to Iron Oak Energy on the acquisition and financing.
Based in Houston, Iron Oak Energy operates 15 active production facilities and supplies proppant to every major shale basin across North America. The company is backed by Anchorage Capital Advisors, Golden Gate Capital, NGP, High Roller Group, and HPS Investment Partners.
KEY QUOTES:
“This acquisition solidifies our position as the leading multi-basin proppant supplier across North America. Signal Peak brings high-quality assets and strong operational capabilities that establish a meaningful position in the Mid-Con and deepen our leadership in the Eagle Ford. This acquisition broadens our reach and further enhances our ability to better serve customers through the greater deliverability and reliability inherent in operating multiple facilities across key basins at a meaningful scale.”
Michael Segura, President And Chief Executive Officer, Iron Oak Energy
“We are confident this acquisition creates a stronger, more strategically positioned organization. I am very proud of what the Signal Peak team has accomplished in building out leading positions in both the Eagle Ford and Mid-Con. I want to thank all of our employees for their commitment and dedication, as well as our partners at Orchard Global for their steadfast support.”
Jackson Wise, Chief Executive Officer, Signal Peak
