FERNWOOD, Miss. (AP) — Oil field service firm Anchor Drilling Fluids USA Incorporated has announced it will locate a warehouse in Fernwood, Mississippi.
The Tulsa, Oklahoma-based company makes the so-called "mud" that keeps drill bits going and bore holes operational.
The Enterprise-Journal reports company CEO Robert West says the company initially will get much of its resources from Houston. If business is good, West says the company will build an oil-based mud plant.
Anchor Drilling Fluids USA has branches in 18 states, and its products are used in shale plays across the country. This is the company's first foray into the Tuscaloosa Marine Shale region.
The Tuscaloosa Marine Shale formation is located in southwest Mississippi and central Louisiana. Experts have said the formation could hold 7 billion barrels of oil.